This payment system was first announced in March 2015 and became available in the UK on May 16th.
Samsung pay has finally started to roll out for a select amount of banks, such as HSBC, first direct and M&S, this comes more than two years after it was announced and the service is now available to more customers.
From today, people who own accounts with HSBC, first direct and M&S banking can use their Samsung mobile with the mobile payment platform to buy goods on the high street. These three banks join Mastercard, Visa, MBNA, Nationwide and Santander. More partners are thought to be joining reasonably soon.
“Since launching in the UK last month, Samsung Pay has provided our UK users with a simple and secure payment method that can be used almost anywhere they can use their contactless payment cards”, said Conor Pierce, vice president, IT and Mobile Division at Samsung Electronics UK and Ireland.
“We’re delighted to add HSBC to our line-up of supporting partners, helping more people to transform the way they pay for day-to-day items.”
Although, you should keep in mind that not all merchants are currently equipped to accept NFC payments, but MST allows your phone to communicate with the magnetic strip that is attached to all card terminals, not just contactless ones. This ensures Samsung pay users will be able to pay with their phones at any merchant.
Samsung claims other features include security and ease of use. A three-step authentication process is put in place to keep your payments secure. This includes bio metrics, Samsung’s KNOX software and tokenisation, which ensures the card information isn’t actually stored on the phone itself.
For more information on this, feel free to follow the link below: