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This app turns Samsung smartphones into payment terminals

Samsung has slowly been expanding beyond its already considerable reach, with apps like Samsung Pay already proving a big hit among Galaxy smartphone users. Now, they’ve launched a new solution that will allow for merchants to use an NFC-capable Galaxy smartphone as a contactless payment terminal: Samsung POS.

Partnering up with Mobeewae, a fintech company, the pilot for Samsung POS has already been ongoing in Canada for some time now, and the company has now officially released the Samsung POS app on the Google Play Store and the Galaxy Store.

What’s interesting about their new Point of Sale solution is that merchants won’t need any additional hardware besides an NFC-enabled Samsung smartphone, and the Samsung POS app. The app takes payments from contactless cards, Samsung Pay, Google Pay, and Apple Pay, with Mastercard and Visa accepted.

This appears to be a smart move on Samsung’s part, which looks to tap into the growing market of micro-merchants and SMEs. And in line with that, the simplicity of having an app to double a smartphone up as a POS system is undoubtedly an attractive aspect of the solution.

According to Sunny Park, VP and Head of Service Operation Group, Mobile Communications Business at Samsung Electronics:

“We’re excited to launch this solution with our strategic partner, Mobeewave. Their patented contactless payment processing platform is the only mobile-based solution accepting Mastercard, Visa and Interac transactions in pilot in Canada. Mobeewave has passed numerous certification and security processes, to deliver a highly secure payment acceptance solution to merchants in a variety of verticals. Their proprietary technology allows us to launch this new solution on a global scale.”

The Samsung POS solution is now available in Canada, although a global rollout is only expected to start in 2020.

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