Samsung’s slightly delayed mobile payment system seems to be back on the tracks for a late-summer launch. Samsung has begun testing Samsung Pay on select Galaxy S6 phones in South Korea. The service is similar to Apple’s NFC based payment system but also includes a technology acquired from LoopPay. The tech, called Magnetic Secure Transmission (MST), allows Samsung Pay to be used anywhere there is a magnetic card reader. Simply stated, a magnetic field emitted from the phone tricks the payment terminal into thinking you just swiped your card. While this sounds like an incredible solution to ensure widespread usability of mobile payment, early reports claimed that the MST tech was fairly finicky. Magnetic fields are directionally dependent and CNN found that the phone needed to positioned in a certain way to work. While we aren’t holding our breath on MST, anything that continues to push the adoption of NFC payments is fine by us! CurrentC, we are still waiting.
