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How to Use Credit Card with Samsung Pay?

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What is Samsung Pay?

Samsung Pay is a mobile payment service that is offered on specific Samsung Galaxy smartphone devices. It allows you to sync your credit cards, debit cards, and mobile payment apps with Samsung Pay. It is used for offline retail payments, since it isn’t yet compatible with online payment options. As of now, it is only optimized to function with cards of specific banks. You can check Samsung’s official website to see if your bank’s credit and debit cards are compatible with Samsung Pay.

How does Samsung Pay work?

Samsung Pay is either pre-installed in your Samsung smartphone or can be downloaded from the Google Play Store. Once you start the app, set your iris or fingerprint scan and input a security pin number for future authentication requirements. Then, you add the credit or debit card or mobile wallet that you wish to link to Samsung Pay. Once the card is verified by the bank and the card network, you can start using Samsung Pay for transactions.

To make a transaction, Samsung Pay has two options - its patented Magnetic Secure Transmission (MST) technology or Near Field Communication (NFC). MST works like the normal swiping machine and is available with most retail merchants. This makes it a popular payment option with Samsung Pay. NFC requires special machines in which radio waves are transmitted to establish a connection between the payment device and the machine for contactless transaction. This facility can be used to make credit card bill payments as well as retail purchases.

Benefits of Using Samsung Pay

  • It eliminates the need to carry cash and multiple plastic cards with you everywhere to make any payment.

  • The two-step security process for authentication makes it a highly secure payment platform.

  • Its MST compatibility along with the NFC option makes it possible to be used at almost all retail outlets.

  • Samsung Pay also has a ‘point based reward system’ in which every transaction earns the user reward points. The accumulated reward points can then be used to purchase gift cards and vouchers.

To know more visit YES BANK's website and check out their Savings Account, Fixed Deposit and Personal Loan.

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