Richard Fink, head of IT and Mobile Division at Samsung Australia, says, “The ability to make payments from the Gear S2 and S3 watches using Samsung Pay gives Australians yet another layer of convenience when shopping and allow them to make payments quickly and easily.”
“For the first time, Australians will be able to use Samsung Pay to tap their Gear wristwatch and purchase their Christmas gifts, pay for their coffee while on the run, or pay for their taxi ride, all without the need to carry a wallet or smartphone. We have already seen an incredible uptake of Gear wearables in Australia, as well as Samsung Pay for Galaxy smartphones, which makes this an exciting and compelling solution for customers.”
The credit card providers that are covered, initially, include Australian-issued American Express cards and Citi (Visa) credit cards.
Samsung Pay supports two types of contactless payments: NFC (Near Field Communications) and the later MST (Magnetic Secure Transmission). The Gear S2, Galaxy S6/Edge have NFC only and the Gear S3, Galaxy S6 Edge+ and GS7/Edge and Note 5 have MST as well.
The Gear must be paired to a compatible Galaxy device and then the Gear S2 and S3 can be used as standalone payment devices with a PIN. One can also pay using the smartphone as a contactless device with Fingerprint authentication.
Almost any loyalty card can be digitally stored as well.
At present, Samsung Pay can be used in Australia, South Korea, United States, China, Spain, and Singapore.
The credit or debit card number is not saved on the device, rather just a token and a cryptogram that is only valid for that payment are transmitted to the card reader.
Samsung is negotiating to extend the credit/debit card and financial institution coverage.