What is Samsung Pay?

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Accepted Answer

Samsung Pay is a mobile payment and digital wallet service launched by Samsung Electronics in 2015 that allows users to make secure, contactless transactions using compatible Samsung devices, notably distinguished by its initial support for both Near Field Communication (NFC) and proprietary Magnetic Secure Transmission (MST) technologies, which enabled acceptance at nearly all traditional magnetic stripe terminals.

Samsung Pay

What is Samsung Pay?

What is the key technological difference that initially set Samsung Pay apart from competitors like Apple Pay and Google Pay?

How does Samsung Pay ensure the security of financial transactions and protect user data?

How has Samsung Pay evolved into Samsung Wallet, and what new features does the integrated platform offer?

What is the current global market share and adoption rate of Samsung Pay compared to its main competitors?

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