If you have a Galaxy smartphone, this app can make purchases that much more convenient.
Last week, Samsung announced the launch of their new mobile payment system, Interac Debit on Samsung* Pay.
Consumers with debit cards issued by ATB Financial, CIBC and Scotiabank who use one of the compatible smartphones can now take advantage of the system.
In essence, if you have a Galaxy A5, Galaxy S7 and Galaxy S7 edge, Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, Galaxy S8 and S8+, Galaxy Note8 or a Galaxy Note5 phone, you can now use the system to pay for purchases at hundreds of thousands of merchant locations in Canada, wherever Interac Flash payments are accepted.
"We're happy to expand our Samsung Pay offering to Interac Debit customers throughout Canada and offer them a seamless mobile payment solution that is simple, safe and convenient," said Paul Brannen, COO and Executive Vice President of Samsung Electronics Canada.
What about security? According to Samsung’s press release, when you add Interac Debit on Samsung Pay to your device, a Virtual Account Number is created. This number is to your device and it differs from the physical number on your bank card.
All transactions will go through the Interac Token Service Provider (TSP), which is a proprietary token platform. A sequence of numbers is generated for every single transaction, keeping your finances protected.
Users will also need to unlock Samsung Pay on their device when using it, either with a fingerprint, iris or PIN, authenticating each purchase and adding an extra layer of security onto each deal.
To get the Samsung Pay app, download it exclusively in the Samsung Galaxy Apps Store .