Samsung Pay might allow money transfer between smartphones in the future

Samsung logoSamsung’s payment service is already quite different from its rivals as it supports both NFC and MST, support for both technologies allows the service to essentially be used at all merchants that accept credit and debit cards. That has done wonders for Samsung Pay’s adoption in South Korea and the United States, the only two markets it operates in right now, but in the future it may leap one step ahead of its rivals by allowing users to share money from one smartphone to another directly via Samsung Pay.

All offline mobile payment services currently rely on the Value Added Network or VAN to directly communicate with the payment company. Hankook NFC, a startup focusing on mobile payments, has developed a new module which eliminates the need for a VAN.

Samsung Pay might allow money transfer between smartphones in the future

What that simply means it that merchants will no longer need special terminals or equipment to accept mobile payments, all they’ll need is a Samsung smartphone with Hankook NFC’s module and access to Samsung Pay. This module is also what will allow users to send money between Samsung devices.

Hankook NFC is in talks with Samsung to expand the application of the NFC payment module, allowing its phones compatible with Samsung Pay to function as mobile payment devices. Not only will it make it much easier for people to transfer money quickly, it will also enable small retailers and even temporary businesses like stalls to accept card payments without needing special equipment.

Source: Ubergizmo

Tags: Samsung, technologies

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
The NVIDIA GeForce GTX 1180 will be Turing-based with a 12nm FinFET die shrink
 
This only works on posts made by profiles that are public
 
 
The device will be standalone and based on a Qualcomm chipset
 
Apple plans on offering a cheaper smart speaker that will be priced at $199
 
Chrome will adopt a new approach to indicating site security
 
Data shows they are leading smartphone sale worldwide
 
Is this an error or it is really happening?
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
  12345
6789101112
13141516171819
20212223242526
2728293031  




Poll

Do you use microSD card with your phone?
or leave your own version in comments (10)