Samsung Pay is a payment platform that allows you to easily make payments for goods and services using your smartphone. Transactions can be carried out using Samsung Pay at any outlet that accepts credit or debit cards because Samsung combines a custom made technology MST (Magnetic Secure Transmission), which has a magnetic field that is similar to the magnetic stripes in credit and debit cards, with NFC (Near Field Communication), a new communication protocol designed to communicate over small distances. This payment platform is getting popular as it slowly penetrates the UK, Europe, and the Far East.
In September 2016, Samsung Pay was released in Russia and now, Sberbank, which is the largest bank in Russia and Eastern Europe, as well as the third-largest in Europe, is adopting the Samsung Pay system. With this development, Sberbank of Russia for the first time is implementing a mobile application which directly binds the bank card payment service to Samsung Pay.
To link your card to the Samsung pay app, you have to visit “Sberbank Online” and follow a few steps. Go to the map screen and select “Add to Samsung Pay” and then proceed. Scanning of the card, request for a card number and other details are not required.
A Samsung official stated that:
“Users of Samsung Pay will appreciate the simplicity of mobile payment for goods and services. Now, clients of Sberbank can now enjoy efficient and easier services with only a couple of clicks to connect the card to the mobile banking application”
Please note that Samsung Pay does not involve any additional fee either from issuing banks, acquiring banks or trading companies.
