Samsung Phones Can Be Used as Payment Terminals Soon

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Samsung has partnered with Mobeewave to let merchants accept payments from supported cards and wallets right from their Samsung smartphones with its Samsung Point of Sale (POS). The highlight of this new system is that the merchant doesn’t have to go through a physical sign-up process since everything is processed through Samsung’s POS app.

All the merchant has to do is install the app from Galaxy Store or Google Play Store, register for a new account and that’s it. The merchant will be able to accept debit and credit payments with contactless cards, Samsung Pay, Apple Pay, and Google Pay wallets.

“Mobeewave has passed numerous certification and security processes, to deliver a highly secure payment acceptance solution to merchants in a variety of verticals. Their proprietary technology allows us to launch this new solution on a global scale,” said Sunny Park, VP, and Head of Service Operation Group, Mobile Communications Business at Samsung Electronics.

The app supports up to $100 per transaction. Receipts for each transaction are sent via email. Merchants can access real-time sales data and complete sales history from the app. Multiple staff accounts can also be created in the app to track sales individually.

In terms of security, Samsung POS is PCI-DSS certified and makes use of Samsung KNOX. For every credit card transaction, 2.65% is levied while $0.10 is charged per transaction for debit payments.

The new Samsung POS app supports the Galaxy S8 series and above, according to the app’s PlayStore description. The system has already gone live in Canada and will be expanding globally by next year.

So, if you’re a merchant, will you consider switching to Samsung POS if you have a supported Samsung smartphone once it becomes available in your region? Let us know in the comments.

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