By Rana Yehia Visa will support consumer payments using the new Samsung Galaxy S6, starting with users in the US this summer, the company said on Monday. In a statement, Visa said users will be able to make secure Visa payments with Samsung's new payment service "Samsung Pay" scheduled to launch this summer. "Working in partnership with Samsung, we are able to bring secure mobile payments to millions of consumers around the world," said Ryan McInerney, global president of Visa Inc. "Combining Visa's expertise in payment technology with Samsung's global leadership in creating innovative mobile experiences gives more choice to financial institutions who want to enable their customers to pay with the new generation of mobile devices," he added. Samsung Pay is designed to enable secure payments with a broad range of connected devices. Visa's innovative technology replaces the payment account information found on the plastic card, such as the 16-digit number, expiration date and security code, with a unique series of numbers. These can be used to authorise payment without exposing actual account details, helping to make mobile payments safer. To make this method of payment more efficient, Samsung leverages both Near Field Communication (NFC) and a new proprietary technology called Magnetic Secure Transmission (MST). These make mobile payments more accessible to merchants and consumers than ever before.
