Samsung Pay

Samsung Pay is one of the top digital wallet apps, which has been more innovative than Apple Pay or Google Pay. It was the first app to initiate a rewards program, and the only one that allows users to pay at non-NFC magnetic credit card terminals (even though it’s not an issue anymore).

The app has a new product feature called Samsung Money by SoFi. There are no fees charges and an interest-bearing cash management account. Samsung Pay allows NFC payments, loyalty plans, and Visa Checkout online.

This app is great for a Samsung smartphone user, but it doesn’t allow person-to-person payments, a web interface, and cross-platform support.

Key Features

• Samsung Pay works well with the recent Samsung phone models, starting from Galaxy S6.
• Once Samsung Pay is set up, it is not possible to use Google Pay for NFC payments unless the phone settings are switched to the default tap-to-pay app.
• There are only two mobile payment options available on this app, magnetic stripe credit cards, and cash.
• The Samsung Money product feature by SoFi, allows the customer to use Samsung Pay as their bank. This service pays interest, has no fee, and Samsung teamed up with MasterCard and SoFi to make it available.
• There is a reward point system, allowing the user to receive five Samsung rewards points every time they use Samsung Pay.
• There is a store section feature in the app, where gift cards for shops and restaurants can be purchased, and a deals section offering printable coupons.