INDIA to be one of the fastest growing economy.Along with the brave step taken by the prime minister MODI about demonetisation which aims INDIA to be cashless. So SAMSUNGS see’s this opportunity to make a hold in cashless platform transaction of INDIA. As SAMSUNG prepares to LAUNCH its CASHLESS PAYMENT PLATFORM-SAMSUNG PAY. The king in the current INDIA for digital payment method is paytm which is surprisingly also supporting Samsung’s move.There are other big platforms in India other than paytm such as free charge.Even the GOVERNMENT has BHIM app which strongly promotes DIGITAL ECONOMY. BUT SAMSUNG PAY’S is just out of the box.SAMSUNG PAY is not just an app instead more like a gadget or a hardware chip embedded in Samsungs phone which allows the phone to operate like a credit or debit card.
HOW DOES IT WORKS?
The Samsung pay’s mechanism is wholly different from the working of paytm or any other cashless platforms. It is a real-time alternative to another digital payment platforms.Simply by waving your phone over a cash register and your payment will be done. The hardware first scans the card using the camera will generate 16 digits token number to be used to make payment.
DOES MY SAMSUNG PHONE SUPPORT THIS FEATURE?
The SAMSUNG PAY is restricted to the phones of high PRICE. NOT every phone support it. Currently, SAMSUNG GALAXY NOTE 5, SAMSUNG GALAXY S7, SAMSUNG GALAXY S7 EDGE, GALAXY S6 EDGE AND SAMSUNG GALAXY A7 SUPPORTS THIS FEATURE.