Samsung has an app which turns your phone into a contactless payment terminal

The vast majority of phones and banks now support contactless payments, but to the annoyance of many, many small traders still only accept cash.

This is beginning to change however, with cheap accessories like the Square reader, and now Samsung is offering an app which does away with even that accessory, using the built-in NFC in your Samsung phone.

Samsung Pay Touch is a secure, convenient and cost-effective Point-of-sale solution that allows businesses to accept payments anytime and anywhere. Merchant simply need to download the Samsung Pay Touch app, complete the registration information and within minutes will be ready to accept contactless payments from supported credit and debit cards without the use of dongles or any additional hardware.

The service has no monthly fees, accounts setup costs and has a low per-transaction rate of as low as $0.10 for Debit cards, with no hidden or recurring fees. It uses Samsung’s Knox feature for security and is supported on the Samsung Galaxy S8, S8+, Note8, S9, S9+, Note9, S10, S10e, S10+ and at present only appears to be available in Canada. Mastercard and Visa are both accepted, with the main limitation likely being the $100 cap on each transaction.

The app features:

• Samsung Pay Touch has everything you need to start, run and grow your business with just an app on your Samsung device.
  • Accept payments up to $100 per transaction right on your Samsung device
  • Send receipts via email
  • Customize your products with photos, names and prices
  • Access real-time sales data and complete sales history
  • Create multiple staff accounts to track sales individually
  • Support multiple devices linked to your account
  • Accept credit and debit contactless cards (Mastercard, Visa and Interac Flash) and digital wallets (Samsung Pay, Google Pay and Apple Pay)
• Security
  • Samsung Pay Touch is Mastercard, VISA, Interac and PCI-DSS certified, ensuring that transactions are processed in accordance with the highest security standards and harnessing the security of Samsung KNOX on all supported Samsung smartphones.
• Pricing
  • Pay as you go with no hidden or recurring fees.
  • Credit: only a low standard fee of 2.65% per transaction for Mastercard and Visa cards
  • Debit: one flat rate of $0.10 per transaction for Interac Flash cards
• FastDeposits
  • Get your money fast. Your payments are automatically deposited into your bank account within 48 hours.

Canadians can find the app in the Google Play Store here.

[appbox googleplay com.samsung.android.spaytouch]

Via SamMobile