Samsung presented a few days ago Samsung Pay, its mobile payment system that works similarly to Apple Pay, but has an advantage: its compatibility with old payment terminals. While Apple Pay works using NFC, and therefore it is necessary for the payment terminal to have this technology, Samsung Pay uses NFC and also MST, a technology that makes it compatible with old terminals, without NFC. What a priori seems a huge advantage is in practice a mere anecdote, and we tell you why.
Europe, the paradise of NFC
The introduction of contactless or contactless payment technology in Europe is at an unstoppable pace. According to data from VISA, there are more than 130 million contactless VISA cards in Europe, and during 2014 more than 1000 billion transactions worth 12.600 billion euros were carried out (we insist, we are talking only about VISA). And the data for 2015 will be even better, since in the absence of annual data, only during the month of March of this year VISA contactless cardholders spent 1.600 million euros, with a total of operations carried out during this period that tripled the one registered in the same period of 2014. According to VISA, there are more than 26 million NFC terminals throughout the continent, and they hope to reach 100% of terminals by 2020.
The most important market for this type of payment has been the United Kingdom, with 52,6 million transactions carried out only in the month of March, followed by Poland with 49,7 million. It is no coincidence that the United Kingdom was the country chosen by Apple for the arrival of Apple Pay in Europe.
Spain, the one with the most NFC terminals installed
In Spain, the number of contactless cards (VISA) grew more than 87% over the last year, with a total of 11,5 million cards issued (25% of the total) and 593.000 point of sale terminals (50% of the total). The commitment of large brands such as El Corte Inglés, Repsol, Carrefour, Caprabo, IKEA, Rodilla, McDonald's or Mercadona that have already adapted their terminals to contactless payments will undoubtedly contribute to making the extension of this type of payments even faster. . According to VISA data, operations for a total of 447,8 million euros were carried out in Spain during the month of March.
United States, in the tail but for a short time
Surprisingly enough, things are far behind on the American continent. In the United States, contactless payments are still in their infancy. The implementation of Apple Pay has made the main commercial chains have implemented this system, but in small businesses there is still a long way to go. But this has an expiration date, because in October of this year all payment terminals must be compatible with microchip credit cards, which we have used in the rest of the world for a long time. This will mean that all old payment terminals will be renewed by others compatible with this technology, and also with contactless.
The smartphone will determine the payment method, not the other way around
After reading all this data it is clear that MST technology is late, because the leap to contactless payments has already started and is unstoppable, especially in Europe. In the only market where it would have possibilities is the United States, in which Apple Pay is already implemented with great success, and also by the end of the year the terminals will be updated by others much more modern that will incorporate NFC.
But even if all this were not so, experts say the payment system that users will use will be determined by the smartphone we have, and not the other way around. Apple Pay or Samsung Pay will not be the one to decide which mobile we buy, rather we will buy a smartphone depending on our tastes or its global specifications, and we will use the payment system that it incorporates. And here Samsung has another problem, and it is not called Apple, but Google. Because Google Wallet will come installed in many Samsung terminals, since telephone operators can modify the Android operating system to install their applications, and AT&T, Verizon and T-Mobile have already confirmed that they will pre-install it on their terminals.