Samsung has integrated all credit and debit card in new app called Samsung pay.
Samsung Pay work on 3 Principles
?Available on any MST / NFC terminal
?If NFC is not available, MST works as a back-up
?Allows coupons, membership, loyalty programs
?eSE and Samsung KNOX Workspace – Samsung KNOX continuously monitors for vulnerabilities on your phone. If your phone is ever compromised, your card information is still safely encrypted in a separate, secure data vault
?Authorizes payments by fingerprint or PIN – Transactions authorized with your fingerprint, so you’re in control of when each payment is made
?Supports tokenization – Transactions use random tokens instead of your card number, which means your information isn’t shared when you shop and your details stay safe
?Simple card enrollment process
?Accessible from any screen
?Fast and easy payment experience
?Phone doesn’t need to be online
?Fingerprint potential for high value payments
?Future inclusion of loyalty cards
You can understand it will help of below video.