Samsung Electronics Co Ltd’s Samsung Pay’s Magic Trick Could Prove Hazardous For Apple Inc. (NASDAQ:AAPL)’s Apple Pay
Samsung Electronics’ Samsung Pay service puts in use MST (magnetic secure transmission) which compares to Apple Inc. (NASDAQ:AAPL)’s Apple Pay’s usage of NFC. This helps Samsung Pay acceptable any terminal which can accept a credit card. This feature provides Samsung Pay a competitive edge over not only Apple Pay but also Alphabet Inc (NASDAQ:GOOGL) Google’s Android Pay.
Samsung ‘Pay’ can replicate even the old magstrip technology. This is as opposed to more secure chip-and-pin terminals or even newer NFC contactless system.
Samsung ‘Pay’ uses Magnetic Secure Transmission, which sends a signal which is similar with the data on the back of credit cards. This helps traditional card readers to read Samsung Pay’s data seamlessly. Users don’t have to swipe anything but be in close range to the reader. This turns out to be a magical trick for the popularity of Samsung which challenges Apple Pay and Android Pay. The latter two relies on NFC, which cannot be used at old terminals which have much older technology.
The latest promotional advert showcases this killer feature of Samsung Pay service. In the ad, Hannibal Buress – a stand-up comedian walks into Katz’s Deli in New York and tries to pay for an order with his Samsung phone. People at the registry seem buffed. The staff compares this payment method with that of Apple Inc. (NASDAQ:AAPL)’s Apple Pay and they say that they don’t have that. Buress, who is sporting what looks like Samsung Galaxy Note 5, insists that this service will work with even junky old thing.
In the ad, mentioning of Apple is definitely a direct attack, but these two companies have become famous for their direct attack on each other. Another notable thing about the ad is that Samsung is seeking to promote innovativeness in it 2016 handset. The whole concept of Samsung contactless payment methods which can use traditional reader makes Samsung look ahead of Apple and can release innovation to the customers in real word in a practical manner.
Last year, Samsung tried to dance around but this year it seems they have an aggressive approach to concepts. The ad proves that Samsung is head to head with Apple, and the Galaxy team is ready to throw punches.