Mobile Payments

Samsung Pay Now Usable At South Korean ATMs

Samsung Pay has perhaps come one step closer to freeing the world from the shackles of plastic.

The mobile payments platform is now open for business at ATMs — if the customer in question happens to be in South Korea.

And happens to be a customer of Woori Bank — since, as of now, those are the only ATMs it works with (it is unknown if the option will be available for other banking customers or when that might be a possibility).

This adds another functionality tool to Samsung’s already fairly impressive belt. Samsung Pay is unique among offerings in that it leverages magnetic secure transmission (MST) technology, meaning it does not need a specialized NFC-equipped terminal to function. This ability to work with most magstripe readers gives it an advantage over its rivals at Android and Apple — both of which are NFC-dependent.

Apart from expanding its functionality of late, Samsung Pay has also upped its geographical footprint with a rollout in China earlier this year. Further launches in Australia, Brazil, Canada, Singapore, Spain and the United Kingdom are all currently planned, though there are no release dates available for those nations as of yet.

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