NCR Silver Pro Restaurant Now Optimized for Samsung Pay
You have a powerful ally at the point of sale that you may not even be aware of: The ability to offer mobile payment options to anyone with a modern Samsung phone.
With Samsung Pay, your customers can purchase items using their Samsung phones, even if you still only have an older credit card swiper. Samsung indicates the service works at “millions of places,” but NCR Silver Pro Restaurant Version 4.3 is actually optimized for the service.
A primary benefit, and differentiator, is that you can offer mobile payments without hardware or software upgrades. Samsung Pay also works on the same contactless readers that are used for Apple Pay and Android Pay.
Samsung Pay, and competitive solutions, are also as fast as a swipe payment, if not faster.
Perhaps most important is that your potential Samsung Pay user base is likely high. Samsung owns about 27 percent of the U.S. smartphone market.
How Samsung Pay works
A customer needs a Series 6 or newer Samsung smartphone and a Visa, MasterCard or AmEx card connected to a participating financial institution, of which there are many – from Bank of America and Wells Fargo to Navy Federal Credit Union.
Samsung Pay also works with many loyalty and gift cards, the company says.
Once the card is connected to the app, your customer just holds the phone near a reader and “taps” it (as opposed to swiping or dipping). If you only have a magnetic card swiper, the phone emits a signal that simulates the magnetic strip found on the back of a card. If you have a contactless reader, it works the same way that competing services do.
Transactions are authenticated by the end customer with a PIN entry, fingerprint scan or iris scan.
The payment is then routed like any other credit card payment, with no additional fee.
Marketing Samsung Pay functionality
Samsung recommends that you market the ability, as mobile payment adopters will feel a higher affinity for your business.
“We have programs in place,” says Damien Balsan, head of Samsung Pay Acceptance. “We encourage digital or physical signage. You can even present a small sticker by your POS system. When shoppers are reminded that Samsung Pay works, they’re more apt to use it.”
Contact a Samsung rep to learn more about marketing the service.
Mobile payment adoption
For those who love the idea of leaving their wallets at home, mobile payments have been, well, a little slow to catch in the United States.
According to a recent survey by Pymts.com, 14.6 percent of eligible users have tried Samsung Pay. Just 2.5 years past Apple Pay’s entrance in the market, usage has been growing, but slowly. Apple Pay use has increased 4 percent yearly, according to Pymts.com. Samsung Pay use has increased a bit faster at 4.5 percent yearly.
While the trend is definitely pointing up, some reasons (and misconceptions) exist for the slow adoption.
Chief among the reasons of those who haven’t tried Samsung Pay was satisfaction with current payment methods. The second biggest reason was concern over security.
With Samsung Pay, each transaction is covered by your bank’s fraud protection and is authenticated by a PIN or biometric reading. In addition, Samsung and other services add an extra layer of security with “tokenization,” the process of replacing sensitive data with non sensitive data.
Layers of security are built into all mobile payment methods. But as with any big change, it takes a while for widespread acceptance.
Are mobile payments for you? Only you can answer that. The great thing about Samsung Pay, however, is that if you don’t have to do anything for it to work.
“There’s no incremental cost,” Balsan says. “It’s seamless. It’s the future. You may as well be with the leading edge instead of catching up.”