With the growing trend of using Google Pay and similar services, mobile payments are overtaking the traditional way of paying through cash and credit cards. With mobile payments, you don’t have to worry about carrying your cards anywhere. Plus, if stolen, it is possible to use the mobile payment due to secure phone and payment apps lock system. Of course, now that we can send payments via mobile, the next technology should enable mobile phones to receive the payments. This has been semi-possible so far. Services like stripe and sum up offer card small-scale terminals that can be paired with your smartphone using Bluetooth technology to receive payments. Now, Samsung has launched a Pay Touch.
Samsung Pay touch is a relatively new app that works only with compatible Galaxy smart devices and turns these into point of sale system. It can be used to receive contactless payments. In other words, Samsung is extending its Samsung Pay service from customers to merchants. This app doesn’t work on every smartphone. So far, the only supported models are the Galaxy S8/S8+, Galaxy Note 8, Galaxy S9/S9+, Galaxy Note 9, and Galaxy S10/S10e/S10+. We can expect that Samsung Note 10 will also support this feature when released. Although this app seems to be limited in Canada.
This convenience doesn’t come to the users for free. Credit card transactions will earn Samsung 2.6% per transaction. Debit cards, on the other hand, will set you back $0.10 per transactions for Interact Flash card. Despite all this, the transaction isn’t immediate and will take up to 48 hours to complete. There is also a limit of transactions, which is a little weird but it is meant for security. In case, someone stole your phone and manages to open the phone and payment app by any means, still they can’t use more than $100 without your consent.