As reported by SamMobile, a recent tweet from Samsung Support USA has revealed that Verizon Wireless will not be supporting Samsung Pay. This made sense considering an earlier announcement back during the Samsung Unpacked event. Samsung confirmed that it will collaborate with Visa, MasterCard, Bank of America and other companies. However, Verizon Wireless did not get a mention. According to the official website of Samsung USA the company will use other US-based carriers such as AT&T, Sprint, T-Mobile and US Cellular.
The newly announced Samsung Galaxy Note 5 and Samsung Galaxy S6 Edge Plus will host Samsung Pay right out of the box. All users have to do is to register a credit, debit or loyalty card with the system onto the eligible devices and use Samsung Pay as a wallet. Samsung Pay will also have support for membership cards and gift cards.
All the data of the consumers will be protected by a hardware-based security system known as Samsung Knox. No sensitive data will be saved on the payment platform. On the contrary, the system will issue a unique code to authorize the payment.
The company is using a dual solution for Samsung Pay that works both with near field communication (NFC) and magnetic secure transmission (MST). NFC is a form of contactless communication that allows a user to wave the smartphone over a NFC compatible device and send information without any physical touch.
In case of MST the device emulates or sends short-range magnetic data similar to the one stored on the stripe of a credit or debit card.
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