On Sunday, Samsung launched its new service for mobile payments and other industry giants are coming.
The Swedish retailers are satisfied as long as the does not require investment in new technology and that banks take the risk if the systems do not work.
The Samsung Pay can be used on existing payment terminals with Near Field Communication (NFC) and a new technique called Magnetic Secure Transmission (MST). On the new phones Galaxy S 6 and Edge is a fingerprint reader on the Home button at the bottom that manages identification. Already, Samsung MasterCard and Visa on the train and also trying to get with the international banking giants. The service is expected to launch in Sweden at the end of the year.
The Reluctant banks
The reason that banks are reluctant to hang on, as are other IT and telecom companies similar services, is very if customer contact. It is the company behind payment service that can communicate with customers and entice with offers and that role would the banks rather have themselves.
On the trade organization Swedish trade, you are basically positive to all the new payment solutions if they are safe and not associated with new costs for merchants. According to Bengt Nilervall, responsible for payments in Swedish trade, today’s terminals in the stores are prepared for NFC technology and what is needed is new software. If security is based on PINs or fingerprint does not matter.
clear risk
– As long as it is clear who bears the risk if something happens it does not matter . If we do everything right so do banks risk like that, I see no challenges.
For payments are Swedish trade now busy fighting over who should bear the cost of the new banknote readers traders need to install when they new Swedish banknotes coming on the market. It will cost around 100 000 per cash and total costs are estimated to be around one billion.
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