Samsung Pay is a mobile payment service which is offered by Samsung Electronics. It now supports wide network of TD banks and Regions bank. The users of Samsung Pay can now use their credit and debit cards to make payments. This mobile payment option recently announced its expansion plan and now supports about 130 banks and union credits. This allows Samsung Pay to supports over 75% of plastic money market in United States.
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This mobile payment system by Samsung is simple, safe and secured. A user simply needs to swipe and authenticate the payment process with his fingerprints; thus making the entire process safe and secured. In order to achieve high security levels the terminals of the system are upgraded to EMV.
The wide network of Samsung Pay makes it compatible with most of the terminals that include magnetic tapes, NFC and EMV terminals. Usage of these terminals by Samsung makes this app works at more places than any other mobile payment app.
Currently Samsung pay has about 5 million customers while Apple pay rules the market with 12 million customers. However, these figures are expected to change due to increasing number of Samsung pay supported handsets and the usage of superior magnetic strip and EMV technology by Samsung. Samsung pay was recently launched in China would be launching soon in Australia, UK and number of European countries.