A distinctive feature of Samsung Pay is its support for magnetic stripe technology, also known as MST. With MST, users can use any credit card machine to make contactless payments, even if the latter does not support Near Field Communication (NFC), which is a big advantage of Samsung Pay over competitors.
However, Samsung confirmed that the new Samsung Galaxy S21 series will not support MST. This means that Galaxy S21 users need to rely on NFC support as long as they make contactless payments.
Samsung said: “Due to the rapid adoption of Near Field Communication (NFC) technology by consumers and businesses, starting with devices launched in 2021, Samsung Pay will focus on supporting NFC transactions in the Galaxy product portfolio. Although future devices will no longer contain magnetic Strip technology (MST), but customers using previously compatible Galaxy devices will be able to continue to use Samsung Pay, including MST.”
Samsung seems to explain this change very simply, that is, NFC is much more common than MST now. Therefore, this is likely to be a simple cost-saving measure that prompted Samsung to remove MST hardware from the Galaxy S21 phone.
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This will undoubtedly make many Samsung fans feel dissatisfied. Although it is definitely easier to find NFC support in stores now, it is still not everywhere.
MST (Magnetic Secure Transmissions) means “magnetic secure transmission”. This technology was developed and patented by LoopPay. Samsung acquired the company earlier to deploy its Samsung Pay business. The biggest highlight of other payment methods such as Samsung Pay and Apple Pay is the support of magnetic stripe card payment.
Users can read the card by using a Samsung mobile phone that supports MST technology close to the head of the POS device. This is a boon for POS merchants who do not support contactless cards. Samsung SmartPay can also be used without changing the POS device.
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