On the 29th of September 2016, Samsung Electronics launched its payment service – Samsung Pay, in Russia. At the moment the service is already present in USA and South Korea and continues to spread throughout the world. The application represents a payment system embodied in your Samsung phone and works with a couple of different technologies as NFC (Near Field Communication) like Apple and Android Pay and the MST (Magnetic Secure Transmission). MST makes the Samsung Pay compatible with all existing terminal payments.
The experts share different opinions regarding the success of this service in Russia. Someone states that the potential users are very few, and mainly the geeks which are used to the hightech payment systems, as the service “Wallet”. Others are more optimistic and think that the implementation of Samsung Pay comes natural as a continuation of the current trend.