Samsung Pay was released in South Korea and the United States in 2015, and the UK has been confirmed as one of the countries that will be getting Samsung pay in 2016.
So can you get Samsung Pay in the UK? Yes, you will be able to soon – but not yet. An official launch date is yet to be confirmed, but here is a little of what we do know.
How Will it Work?
Samsung assures us the set up will be quick and simple, and once it’s done it will be faster, easier, and more secure than using traditional payment methods. In fact, after you upload a card onto Samsung Pay, it becomes the most secure way you can pay for a transaction because none of your actual card details are stored on the device.
Rather than storing your actual credit card details, Samsung Pay will allow you to store a secure digital token of your credit card on your device. It will act and work like your credit card but without being vulnerable to having your actual card details exposed or stolen.
Samsung Pay will be accessed by swiping up from the home or lock screen and then verifying the payment by scanning your finger print. You then touch your device to the point of service (POS) terminal and payment will be made.
Can I Get Samsung Pay on my Device?
Initially, Samsung has only confirmed that Samsung Pay will work with new devices, such as the Galaxy 6S and the Galaxy 6S Edge as well as the Galaxy 7S and 7S Edge, which are also being released later in 2016.
However, Samsung has not said that Samsung Pay won’t be available for older devices, but neither has it confirmed that it will.
Where Will You be Able to Use Samsung Pay?
Samsung has confirmed that both Visa and MasterCard are on board and is currently working with the major UK banks as well.
So as far as where you will be able to use Samsung Pay in the UK, basically any shop that offers contactless pay will also support Samsung pay. Like Apple Pay, there will be a £20 limit per transaction, but Samsung has said that number will rise to £30 by the end of the year.
At the moment it’s still unclear as to whether Samsung Pay will permit unlimited amounts of £20 transactions, as long as it’s supported by the retailer.
Thanks to Samsung’s ground breaking Magnetic Secure Technology (MST), Samsung Pay will be able to work with both Near Field Communication (NFC) and the older magstripe, which is the vast majority of payment terminals. Samsung says this will mean that Samsung Pay will be compatible with an estimated 30 million merchants worldwide.
What Can We Expect from Samsung Pay in the UK?
“Samsung Pay will reinvent how people pay for goods and services and transform how they use their smartphones,” said JK Shin, Samsung’s CEO & Head of IT & Mobile Communications, prior to the launch of Samsung Pay last year. Samsung and it’s partners are certainly excited about the possibilities of Samsung Pay, and with South Korea and the US markets leading the way with what we can expect, we’re looking forward to when we get Samsung Pay in the UK.