More and more people are using Google Pay and similar services, which goes to show that mobile payments are becoming a norm these days, along with cash and card payments. To say that using your phone to pay instead of carrying cash is convenient is a huge understatement.
Now that can make payments via mobile, it only makes sense that we should also have the ability to receive payments via mobile. For some time, this has been semi-possible with services like SumUp and Stripe offering card small-scale terminals that are compatible with your smartphone via Bluetooth. Samsung has clearly taken note of this fad and improved the service by launching Samsung Pay Touch.
Samsung Pay Touch is a new app that works with compatible Galaxy phones, transforming them to PoS (point-of-sale) terminals that can be used to receive contactless payments. Essentially, Samsung is extending its Samsung Pay service from customers to merchants.
However, not all Samsung devices will work with the app. The only supported models as of writing are the Galaxy S8/S8+, Galaxy Note 8, Galaxy S9/S9+, Galaxy Note 9, and Galaxy S10/S10e/S10+. When the Galaxy Note 10 is released, it would probably support this feature as well. Additionally, it seems that this service is only available in Canada, at least for now.
Naturally, there will be charges. Samsung will earn 2.6% per transaction in credit card transactions. On the other hand, debit cards will cost users $.10 per transaction for Interac Flash cards.
What's disappointing is that transactions aren't done real-time - they can take up to 48 hours. Transactions are restricted up to $100 only, which means that Samsung Pay Touch is likely targeted at smaller businesses. For larger transactions, they'd be forced to buy a dedicated terminal, which renders the app useless.
But feature-wise, Samsung Pay Touch doesn't disappoint. One account can support multiple devices, and business owners can create separate staff accounts to track the sales of each member. This is extremely helpful for businesses whose pay is based on commissions. Moreover, there is an option to send receipts via email, and products can be customized with prices, names, and photos.
One thing to take note of is the registration process, which according to some Google Play Store reviews can be quite challenging. To be fair, Samsung has replied to most reviews with an explanation. The company has been through with major issues in recent years, so surely, a sign-in/sign-up issue won't be so hard to fix.
