Let's talk about MST - Magnetic Secure Transmission

[Jaycemiskel]

Tell it to,the thousands of small and medium business owners as well as some of the most well known store brands who have invested a great deal of money in the best equipment they can afford to run their businesses. For the time being have both affords options for those of us who will benefit from two mobile payment formats.

I agree. I think we'll be able to use Samsung Pay for a while. I also think they're probably working on a way to not be obsolete when chip and pin becomes the only way.

 

[imna357]

Well they bought Loop Pay to get this technology and I'm guessing/hoping that they're working on a way to make it work with chip and pin tech. From what I understand though, they're using a one time token for each transaction so even if someone stole the signal being transmitted by your phone they wouldn't have your card number, and also wouldn't be able to use it to make another purchase. Sounds pretty secure to me. I'll be using this as soon as it's available. It'll be nice not to have to carry my wallet around anymore.

Using the LOOPPAY right now, and I will say this it's a freaking awesome wallet, been a Google wallet user since it launch, but this one take it to the next level, just got it last week, and people are freaking awed by it. Waiting for Samsung to activate this and I'll grab the Samsung edge s6. Like leaving everything, this thing takes everything

 

[jcp007]

Using the LOOPPAY right now, and I will say this it's a freaking awesome wallet, been a Google wallet user since it launch, but this one take it to the next level, just got it last week, and people are freaking awed by it. Waiting for Samsung to activate this and I'll grab the Samsung edge s6. Like leaving everything, this thing takes everything

You shouldn't have long to wait. Samsung Pay is expected H2 2015.

 

[MarineSSGT0629]

I disagree. People who are not technically savv will always want the comfort of throw back tech. Why do we still have SD cards when there is cloud storage and data streaming? Why do we have swappable batteries when tightening up the OS and having more energy efficient, high output/faster chipsets?

Posted via My Samsung Galaxy S4 Handheld Device

Security. Plain and simple. You cannot be 100% sure your device is turned off if you still have a battery connected. SD cards are also important for security. Not every file can be hosted on a could service when security is a concern.

Also, an 64gb SD card is ~$50 where as to get a 64gb device vs the 32 or 16gb is much more. I liked having my movies/music on an SD card so when I was without data, I still had access. (I keep saying HAD because I just switched from the Note 3 to the S6 Active so I dont have either anymore).

 

[MarineSSGT0629]

I completely agree with you in that it wont be going away. Credit card companies in the US have already stated they are resistant because they believe people will use their cards less if the have to enter a pin and the cost benefit does not outweigh fraud write offs.

 

[schwarz2276]

If MST can make the mag payment type more secure, eg Tokenized then this is a worthy pursuit. I don't know if I see Samsung owning the lion's share of the non-Apple mobile device market in the next 5 years so why not sell this technology to the Moto's and such. HTC is nearly dead isn't it? All good discussion no matter what though. Thank you for explaining the MST at a high level.

 

[jcp007]

I completely agree with you in that it wont be going away. Credit card companies in the US have already stated they are resistant because they believe people will use their cards less if the have to enter a pin and the cost benefit does not outweigh fraud write offs.

Thank you for your service.

 

[DesertRat810]

Sorry to necro, but read through the thread and saw very little technical discussion about MST.

Since MST has compatibility with all card readers at least on the technical level, and by it's name, it's communicating magnetically. Which I assume means it's producing modulated electromagnetic pulses to induct into the MagStripe reader.

Tried to find the patent for MST/Samsung Pay, but couldn't find anything other than this thread in the 1st couple pages of results. Just would like some more technical insight into how it works.

Edit: Found some relevent info along the lines of what I was looking for. In case anyone else stumbles upon this thread in a similar search for information.

MST technology generates changing magnetic fields over a very short period by putting alternating current through an inductive loop. The magnetic read head of mag stripe readers can read these magnetic fields. To be specific, the signal received by a mag stripe reader emulates the same magnetic field change normally induced by tapping or swiping a mag stripe credit or debit card across the same read head.