The way how payments are being made has changed a lot in the last decade. Samsung Electronics is one of the pioneers behind this idea and they are continuously committing to the idea of revolutionizing this. The new method of “Samsung Pay” is actually now available in Mexico, which is the second Latin American country and the 20th worldwide one, that could benefit from this service!
Since this Samsung Pay launch in Mexico, now users will be able to make purchases easily through their smartphones, and they should be compatible Galaxy devices. They could use that in almost any establishment across the country that works with credit, debit or any other cards that people use to stock money into. We all know that some payment platforms are limited by the use of NFC (Near Field Communication) technology, but this Samsung Pay offers both NFC and MST (Magnetic Secure Transmission), which makes it the most widely accepted mobile payment method, for now, that’s available on the technology market! This MST technology turns the user’s phone into a traditional credit card, working just the same way as it!
In order for Samsung to fulfill this idea/project, they had to make a clear plan so that they could become partners with some of Mexico’s leading financial partners, thus including even MasterCard, Visa or American Express. A couple of famous banks are also on that partner list, so citizens should be able to feel secure and free to use that method, as it will most promisingly be flawless. If there are flaws, however, I am sure that they’ll quickly sort them out!
“We are excited to expand Samsung Pay across Latin America and are confident that our customers in Mexico will embrace the ability to easily pay and earn rewards through the convenience of their smartphones,” said Claudia Contreras, Marketing Director of Samsung Electronics Mexico. “We will continue working to forge alliances with additional partner institutions that our customers care about to reach even more users and help drive the growth of the digital economy.”
Because of the three levels of security that the Samsung Pay system has, users will have security ensured and they’ll be able to feel completely safe when making any type of transaction. Lots of modern ways to clarify that the right person’s using the credit card are included – biometric authentication through fingerprint or iris recognition; tokenization, a system that generates virtual information for each transaction rather than storing financial details in the device; and integration with Samsung Knox, the defense-grade security platform that monitors the device in real time to prevent suspicious use. Don’t all these preventions sound safe enough to you because to me they do? Congratulations to Mexico, for taking the 20th spot on the list of worldwide countries that support this Samsung Pay project!
