Magnetic Secure Transmission (MST)
News about Magnetic Secure Transmission (MST).
October 27th, 2016
LG Electronics is working on an alternative to Samsung’s proprietary Magnetic Secure Transmission (MST) technology for mobile payments, Android Authority reports. The technology is to be incorporated into LG’s next flagship smartphone, tentatively known as the LG G6. The electronics giant is having to invent its own technology from scratch to avoid patent disputes with Samsung, the report adds. LG was originally expected to launch its LG Pay service in September but is reported to have delayed the launch due to testing issues.
October 26th, 2016
Samsung Pay is planning “more and more aggressive expansion”, global general manager Thomas Ko has told NFC World in an exclusive interview at Money2020 in Las Vegas, as it emerged a new Deals feature will…
June 15th, 2016
Samsung Pay has launched in Australia with support from American Express and Citibank. The service is available for those with compatible Samsung smartphones, with specific availability varying by local operator.
March 8th, 2016
Samsung Pay has recorded a net loss of US$16.8m since the mobile payment service was unveiled in March 2015, despite attracting approximately five million users in South Korea and the US in its first six months….
January 25th, 2016
Spain’s CaixaBank has revealed that it will not include support for Samsung Pay’s Magnetic Secure Transmission (MST) technology when the bank launches support for the mobile payment service in the coming months. “It is mainly because…
November 11th, 2015
A white paper that explains how host card emulation (HCE) functions and examines its implications for the future of the payments industry is now available to download from the NFC World Knowledge Centre.
October 8th, 2015
Samsung has responded to a New York Times report that claimed a hacking group affiliated with the Chinese government penetrated the corporate network of LoopPay, the inventor of Magnetic Secure Transmission (MST) technology that was…
October 7th, 2015
A hacking group affiliated with the Chinese government penetrated the corporate network of LoopPay, the inventor of the Magnetic Secure Transmission (MST) technology that was acquired in February 2015 to form a core part of Samsung Pay, the New York Times reports. “Both LoopPay and Samsung executives said they were confident that they had removed infected machines, and that customer payment information and personal devices were not affected.”
September 11th, 2015
NFC World’s ‘Ask the Expert: HCE pioneer Doug Yeager’ webinar is now available to view online. 314 people registered to attend the live event and participants gave the presentation an overall rating of 4.2 out…
September 3rd, 2015
PARTNER NEWS: Digital security giant Gemalto has partnered with Samsung to drive the deployment of Samsung Pay across Europe, utilising its Allynis Trusted Service Hub (TSH). Both companies are now working with payment issuers to…
August 14th, 2015
Samsung Pay will launch in Korea on 20 August and in the US on 28 September, the handset maker confirmed as it announced two new flagship devices in New York yesterday. “Samsung plans to roll out the service in the UK, Spain and China as well,” the company says of its fingerprint-secured NFC- and MST-based mobile payment offering. “Select US users of Galaxy S6, S6 Edge, S6 Edge+ and Note 5 will be able to participate in a beta trial from 25 August ahead of the 28 September launch.”
June 3rd, 2015
Samsung Pay is to launch in Korea and the US in September 2015, later than originally planned, and then roll out to Europe, China, Australia and South America, executive vice president of mobile commerce Dr…
May 14th, 2015
Samsung paid about US$250m to acquire LoopPay, developer of the magnetic secure transmission (MST) technology that will form a key part of Samsung Pay when it launches later this year, according to Recode. The figure could rise based on executive or company performance but “the terms of the earnouts are not known”.
March 2nd, 2015
A short video published by MasterCard shows Samsung’s new Samsung Pay mobile payment service in action, demonstrating how a user chooses a payment card, authenticates and then holds their phone next to a standard payment…
March 1st, 2015
Samsung Pay, the tokenized mobile payment system introduced with the Samsung Galaxy S6, will first attempt to use NFC and then fall back to magnetic stripe emulation technology to offer widest compatibility with merchant terminals,…
March 1st, 2015
Owners of Samsung’s new Galaxy S6 flagship phone will be able to make mobile payments at merchants equipped with both legacy magnetic stripe card terminals and those with contactless POS terminals, Samsung boss JK Shin…
February 19th, 2015
Samsung Electronics has announced it is to buy LoopPay, the startup that has developed a way for mobile payments to be made at standard magnetic stripe card terminals. LoopPay’s technology is expected to form part…
January 6th, 2015
Mobile payments startup LoopPay has announced deals with XPal Power and Trident Case to embed its Magnetic Secure Transmission (MST) mag stripe emulation technology into a broad range of products including smartphones, wearables, cases and…
December 17th, 2014
Samsung is in talks with mobile payments startup LoopPay with a view to launching a mobile payments system to rival Apple Pay in the US in 2015, “multiple sources” have told Re/code. The service could “allow payment information to be transmitted to the merchant via NFC technology in addition to via LoopPay’s magnetic stripe-mimicking technology.”
July 25th, 2014
Visa has invested an undisclosed sum in Magnetic Secure Transmission (MST) inventor LoopPay. “The investment is part of a larger strategic funding round for LoopPay, announced earlier this month, which includes Synchrony Financial (formerly GE Capital Retail Finance) and other strategic partners not yet named,” the mobile payments startup says.