With the development of the NFC (Near Field Communications) Technology on Smartphones, different manufacturers starts to invest in a new form of mobile payment; and so in recent years, we see the emergence of Apple Pay, Samsung Pay, Android Pay and Microsoft Wallet.
What are they?
Apple Pay, Samsung Pay, Android Pay and Microsoft Wallet are mobile payment and digital wallet services provided by Apple Inc., Samsung, Google and Microsoft respectively. They allow users to make payments at contactless points of sale and in-app purchases using their respective devices such as iPhone 6S Plus, Apple Watch and Samsung Note7.
Users have to store their credit or debit card information on their mobile payment accounts for payment, but they will be kept encrypted. Taking advantage of the development of the Touch ID security, which is a fingerprint recognition technology, Apple Inc., Samsung and Google’s payment services’ security is greatly enhanced as payments will need the users’ fingerprints for authentication. However, as not all devices are equipped with a fingerprint scanner, Apple Pay, Android Pay and Microsoft Wallet let users pay with passcode.
These mobile payment services keep customer payment information encrypted and private from the retailer. What is more, they do not require specific contactless payment terminals, and can work with existing contactless NFC terminals. For Samsung Pay, it is also compatible with terminals using a technology called Magnetic Secure Transmission like the chip or swipe terminals, giving customers more flexible payment options.
How are they different?
|Apple Pay||Samsung Pay||Android Pay||Microsoft Wallet|
|Supporting Devices||-physical & in-app:
-via Apple Watch only:
|Galaxy S6 / S6 Edge / Active / Edge+
Galaxy Note 5
Galaxy A5 (2016)
Galaxy A7 (2016)
Galaxy A9 (2016)
Galaxy S7 / S7 Edge
Galaxy Note 7Samsung Gear S2 (NFC only)
|Every Android Phone, Tablet and watch with NFC function (in supported countries only)||Microsoft Lumia 950 XL
Microsoft Lumia 950
Microsoft Lumia 650
|Max. Payment Amount||Yes||No, if you are using MST||Yes||Yes|
|Available Countries||1. US
9. Hong Kong
|1. South Korea
7. Puerto Rico
|Extra||Supports in-app and online payments||Supports money withdrawal and online payment for selected ATMS and stores (South Korea only)||Supports in-app payments|
In fact, most store workers do not realise that their store actually accepts Apple Pay, Samsung Pay, Android Pay and Microsoft Wallet. So how do you know where you can use the mobile payment service? The tip is to check for the EMV contactless symbol on the payment terminal at the cashier; if you see one, you can use the mobile wallets for payment. Just tell the cashier that you want to use payWave and tap your phone on the terminal instead, and Voila! Transaction Complete!