Samsung Pay was made available to Android owners since 2015 and quickly became a popular way to pay for goods and services. Samsung Pay has several benefits including more secure transactions and convenience for users.
Instead of carrying around a wallet full of credit cards, customers just wave their phone over the credit card reader and like magic the payment is maid. If you are wondering whether your business’ credit card processing readers can take Samsung Pay, here are a few things to help you find out:
Who Takes Samsung Pay?: Samsung Pay will work for a variety of card readers. If you have a square credit card reader that works with chip cards, you will be able to accept Samsung Pay through the same reader. The Smartswipe credit card reader will also support the Samsung Pay.
How Does Samsun Pay Work?: The app works via its Near Field Communication technology which emits a magnet signal based on the magnetic strip reader of the credit card machine. Samsung is already working with major brands like Visa and American Express to help its customers pay in a more convenient manner. As a merchant, you can be sure that the transaction made through Samsung Pay will be secure for yourself and your customer.
The customer will open the app on their phone and will wave their cellphone over the credit card terminal. The phone emits a magnetic pulse matching the credit card strip that has previously been input. The credit card machine will read the magnetic pulse like reading a magnetic strip. Some credit card terminal will ask for verification. Be sure to ask the customer for the verification number that appears on their phone.
How Do I Start?: First, you want to make sure that your card reader will accept Samsung Pay. You can contact your processing company, or the company that sold or leased you the reader, to ensure that it is compatible with Samsung Pay and other mobile payment apps. You will also want to make sure that you are properly registered with your processing company to accept Samsung Pay.
New technology has certainly created a need for upgrades- especially if you have a much older credit card terminal. While the upgrade may come at a cost, the payoff for broadening your customer base and creating more sales will certainly be worth the effort. You are now able to accept more forms of payment and therefore making it easier for people to make purchases. Some companies, like Merchant Account Solutions, offer readers at no cost, so take a moment to ensure that you aren’t paying for something that you could receive for free.