5 ms·

This is how Samsung Pay works, right? edit: And LoopPay which I guess Samsung acquired.

by guyzero 11y ago

mschuster91 11y ago
IIRC all these payment solutions work with NFC communications. I have a couple of NFC-compatible banking cards.
- anonova 11y ago
  Samsung Pay's pitch is that it is (mostly) backwards compatible with existing card readers. When NFC fails, it does fallback to magnetic strip emulation.
  - deleted 11y ago
    [deleted]
    - atrilumen 11y ago
      Sounds like you didn't read the post.
    - anonova 11y ago
      It's pretty much the same as what's being described in the article. Samsung calls it Magnetic Secure Transmission (MST): http://www.samsung.com/us/support/answer/ANS00043865/997410383/ http://www.samsung.com/us/support/answer/ANS00043865/9974103...
      - leni536 11y ago
        > Magnetic Secure Transmission They dare to call this secure...
        the_mitsuhiko 11y ago
        It is because it uses a token not the PAN
    - jonknee 11y ago
      By generating a magnetic field.
loueed 11y ago
Same Idea, It was Samsung's effort at getting ahead of Apple Pay seen as it's compatible with non-nfc terminals.
UnoriginalGuy 11y ago
Yes. And Samsung is really in a panic right now since the chip & pin rollout is going to effectively nullify their investment. Initially they can just strip the "require pin" flag from the magstripe, but eventually opt-out won't be supported. So Samsung is investing massively into Samsung Pay adverts and promotions in order to get people using it, with the hope that once this functionality breaks that people will continue using it via NFC supported terminals. I believe they give you $50-100 just to use Samsung Pay right now for one example.
- sliverstorm 11y ago
  Did they ever think chip & pin wouldn't roll out? I took the magstripe emulation as a bridge play, to be the first truly viable mobile payments option in order to take pole position in the coming mobile payments scuffle.
- artursapek 11y ago
  Couldn't they have thought of a more creative name for their payment service than "s/Apple/Samsung"?
- the_mitsuhiko 11y ago
  Samsung pay uses tokenization so is considered EMV. However you cannot tell a samsung pay transaction from magstripe relay.
- andrewpi 11y ago
  Samsung worked directly with the banks to deploy a tokenization scheme via the magnetic card swipe system so it would be EMV equivalent. It's not sending your actual card number, but a virtual card number provided by the bank that doesn't have the 'chip required' bit.
samyk 11y ago
Yup, however Samsung Pay/LoopPay keep the chip bit meaning you need to bring your cards with you when they require Chip, where MagSpoof can disable the bit, allowing you to leave your cards at home.

This is how Samsung Pay works, right? edit: And LoopPay which I guess Samsung acquired.

by guyzero 11y ago

This is how Samsung Pay works, right? edit: And LoopPay which I guess Samsung acquired.

mschuster91 11y ago

IIRC all these payment solutions work with NFC communications. I have a couple of NFC-compatible banking cards.

anonova 11y ago
Samsung Pay's pitch is that it is (mostly) backwards compatible with existing card readers. When NFC fails, it does fallback to magnetic strip emulation.
- deleted 11y ago
  [deleted]
  - atrilumen 11y ago
    Sounds like you didn't read the post.
  - anonova 11y ago
    It's pretty much the same as what's being described in the article. Samsung calls it Magnetic Secure Transmission (MST): http://www.samsung.com/us/support/answer/ANS00043865/997410383/ http://www.samsung.com/us/support/answer/ANS00043865/9974103...
    - leni536 11y ago
      > Magnetic Secure Transmission They dare to call this secure...
      - the_mitsuhiko 11y ago
        It is because it uses a token not the PAN
  - jonknee 11y ago
    By generating a magnetic field.

loueed 11y ago

Same Idea, It was Samsung's effort at getting ahead of Apple Pay seen as it's compatible with non-nfc terminals.

UnoriginalGuy 11y ago

Yes. And Samsung is really in a panic right now since the chip & pin rollout is going to effectively nullify their investment. Initially they can just strip the "require pin" flag from the magstripe, but eventually opt-out won't be supported. So Samsung is investing massively into Samsung Pay adverts and promotions in order to get people using it, with the hope that once this functionality breaks that people will continue using it via NFC supported terminals. I believe they give you $50-100 just to use Samsung Pay right now for one example.

sliverstorm 11y ago
Did they ever think chip & pin wouldn't roll out? I took the magstripe emulation as a bridge play, to be the first truly viable mobile payments option in order to take pole position in the coming mobile payments scuffle.
artursapek 11y ago
Couldn't they have thought of a more creative name for their payment service than "s/Apple/Samsung"?
the_mitsuhiko 11y ago
Samsung pay uses tokenization so is considered EMV. However you cannot tell a samsung pay transaction from magstripe relay.
andrewpi 11y ago
Samsung worked directly with the banks to deploy a tokenization scheme via the magnetic card swipe system so it would be EMV equivalent. It's not sending your actual card number, but a virtual card number provided by the bank that doesn't have the 'chip required' bit.

samyk 11y ago

Yup, however Samsung Pay/LoopPay keep the chip bit meaning you need to bring your cards with you when they require Chip, where MagSpoof can disable the bit, allowing you to leave your cards at home.