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Thread: Samsung Pay -- Anyone using it on your Android Phone

  1. #1
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    Samsung Pay -- Anyone using it on your Android Phone

    How do you feel about the security of these kinds of apps in general?

    How do you feel about the security of this particular app?

    Have you had any issue using it? It is supposed to work at any terminal unlike Apple Pay and Android Pay which require the newer types of POS terminals.

    Any other thoughts about Samsung Pay?

    Thanks
    George

    Making sawdust regularly, occasionally a project is completed.

  2. #2
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    I have been using it for several months with my NOTE 5 I really like it and use it everywhere I can 3-4 time a week. Since ut generates a unique card number each ime I is used I feel the security is better than a card.
    Paul

  3. #3
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    I don't use a phone pay app but if I did I'd tie it to an account with limited funds, sort of like people do with Paypal. That would should the risk exposure. I don't know how much personal information is connected to such a service so don't know how much it'd increase the risk of identity theft in case a phone is lost or stolen.
    Last edited by Curt Harms; 03-11-2016 at 6:13 AM.

  4. #4
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    Curt I assume you are referring to using the phone pay app with a debit card. I would never do that and in fact will never have a debit card.
    George

    Making sawdust regularly, occasionally a project is completed.

  5. #5
    I tried it yesterday but none of my bank cards will work with the system.

    Jack

  6. #6
    I use it because the transaction processes much faster than the chip-based reader. Works as promised. No problems. Works everywhere.

    The mechanism that Samsung Pay, in particular, uses generates a 1-time account number - it's actually more secure than a regular credit card. Respectfully, the advice about a "limited funds" account is almost criminally bad. With a credit card, you have no liability for fraud, anyways. Don't even worry about it. If there were a greater risk of fraud with such a service, presumably the credit card vendors would not be onboard with the service.

    One of the best reasons for using a credit card is the fantastic legislated consumer protections. Someone stole your card? Oh well. Send me a new one. Something you bought broke? Dang. Give me a refund. Price on something went down after you bough it? Shucks. Pay me the difference. Worrying about fraud with credit cards has to be the lowest return-on-time-invested activity you can engage in... There is just zero risk to concern yourself with.

    Only potential downside I've noticed with Samsung Pay is that it seems to prevent vendors from keeping track of my purchases (although the tin foil hat crowd might find that advantageous). So in the past, certain stores could look up my purchase history with my credit card and do returns without needing a receipt. Can't do that, with S-Pay, because of the unique number generated each time. Likewise, stores like Target will print coupons at the register based on your prior buying habits ("Haven't bought paper towels in a while? We sure hope you aren't getting them elsewhere. Here's a coupon to get you back to buying paper towels at Target") or based on some profile they've built of you ("We know you don't have kids, so let's print you a coupon for beer instead of baby wipes"). Since using S-Pay, I've noticed that I "broke" the algorithm and just get random coupons, now (again, I suppose they don't know who I am, any longer).
    Last edited by Dan Friedrichs; 03-11-2016 at 10:07 AM.

  7. #7
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    Quote Originally Posted by Dan Friedrichs View Post
    Only potential downside I've noticed with Samsung Pay is that it seems to prevent vendors from keeping track of my purchases (although the tin foil hat crowd might find that advantageous). So in the past, certain stores could look up my purchase history with my credit card and do returns without needing a receipt. Can't do that, with S-Pay, because of the unique number generated each time. Likewise, stores like Target will print coupons at the register based on your prior buying habits ("Haven't bought paper towels in a while? We sure hope you aren't getting them elsewhere. Here's a coupon to get you back to buying paper towels at Target") or based on some profile they've built of you ("We know you don't have kids, so let's print you a coupon for beer instead of baby wipes"). Since using S-Pay, I've noticed that I "broke" the algorithm and just get random coupons, now (again, I suppose they don't know who I am, any longer).
    I assume the issue with looking up purchases with a chip card is the same because chip cards also use a one time number? I have not had to try looking up a receipt since chip card readers have become common.

  8. #8
    Good question, Brian. I guess I haven't tried to look up a receipt, either - I just noticed that the coupons I get at Target seem a lot more random/useless since I started using S-pay. It seems like since the chip cards also use tokenization, they would have the same problem.

    10 minutes with google and the best answer I could come up with was this quote:
    "Apple Pay obfuscates the consumer’s name and hides much of the credit card information from the retailer, all in the name of privacy and security, but these are the very things that these value-add services latched onto in order to run effective and targeted campaigns. This is the main reason why Starbucks only enabled loyalty users the ability to top off their Starbucks account with Apple Pay, rather than enabling Apple Pay to transact directly in-store – the loss of loyalty rewards to their customer base was too high."

    So, I'm not sure.

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