Samsung Wallet and Samsung Pay Review: A Comprehensive Guide

Samsung Wallet got all the features users loved about Samsung Pay while integrating elements from Samsung Pass and unique additional functionalities. Check out what's new in our ultimate guide below!

The rise of eWallets has revolutionized how consumers shop and make payments by offering remarkable convenience, speed, and security. Samsung Pay is one of those digital wallets. It has been a popular digital payment option available for Samsung smartphones, tablets, and watches users. 

However, Samsung recently released the new Samsung Wallet. In this comprehensive guide, we explore the new digital wallet’s unique features and how it is different from Samsung Pay. We look at the benefits, new functionalities, security measures, and distinctive advantages over its competitors. 

The new Samsung Wallet actually merges Samsung Pass and Samsung Pay in one convenient place on your device. But let's start from the beginning…

Samsung Pay

Short History

Samsung Pay digital wallet was first introduced by Samsung Electronics in August 2015 in South Korea. The platform quickly expanded its services to other markets, including the United States, China, and Europe, building on the popularity of the proprietary smartphones. 

Over the years, Samsung Pay has forged partnerships with major financial institutions, credit card issuers, and loyalty programs, solidifying its position as a leading player in the digital wallet market. 

How does Samsung Pay work?

Samsung Pay uses both Near Field Communication (NFC) and Magnetic Secure Transmission (MST) technologies to enable contactless payments. NFC technology allows communication between devices over short distances, while MST allows the app to work with traditional magnetic stripe card readers. This dual-technology approach has set Samsung Pay apart from its competitors, making it compatible with a wider range of payment terminals.

Samsung Pay's Limited Utility

However, Samsung Pay cannot fully replace your traditional wallet, as it lacks support for certain items such as IDs, passes and passports. Additionally, it was not designed to store sensitive information like passwords, addresses, and autofill credit card details. 

This information is stored in a separate app called Samsung Pass, which made Samsung Pay less comprehensive and versatile compared to some other top mobile payment services.

Samsung Pass

Samsung Pass enables you to effortlessly log into your accounts, applications, and websites by utilizing your saved biometric information such as fingerprint, iris, or face recognition. This feature also allows you to conveniently add personal information like your address and card details for quicker and more streamlined form filling.

Samsung Pay Merges with Samsung Pass

With Samsung Pay, you can easily make transactions at millions of locations worldwide, as it is accepted virtually anywhere traditional card swipes work. In addition to in-store purchases, the platform is also compatible with select mobile and Bixby merchants.

To use Samsung Pay, you must add your supported credit, debit, or loyalty cards to the app. Once the cards are added and verified, you can make payments by opening the app, selecting the desired card, and holding their device near the payment terminal.

When Samsung Pass is merged with Samsung Pay, new functionalities can be added which were not previously available. And this conveniently brings us to the new Samsung Wallet and its unique features:

Samsung Wallet

Samsung Wallet Features

Samsung Wallet is an extension of the Samsung Pay app, incorporating all the features you appreciate about Samsung Pay, while also integrating Samsung Pass and introducing additional functionalities.

Perks Tab

Samsung Wallet periodically offers promotions and exclusive deals to its users, including cashback, discounts, and bonus rewards points. These promotions are tailored to your preferences and spending habits, providing added value to the platform.

You can find additional savings at top merchants with Cash Back and Deals in the ‘Perks’ tab. This is extremely convenient when you want to save some money without wasting too much time on finding the right deal. 

Digital Keys Integration

House and Other Keys on Your Samsung Device

Now you can use door locks that work with SmartThings. However, all door lock products linked to SmartThings require a network connection which could be a bit of a bummer and an inconvenience for some. 

Digital Car Keys

According to the Samsung Wallet official page, digital keys are already available for select SmartThings-compatible smart door locks and automobiles including BMW 1-8 Series, X5-X7, iX models launched after July 2020, Kia Niro, and Hyundai Palisade, Genesis GV60, and G90. 

Check Availability

Nevertheless, they also state the feature availability may vary by model and is subject to change at any time. So, check the official site for more up-to-date integration details as a few months in a digital ecosystem can totally change the landscape. 

They also add only select Samsung mobile phones are compatible with each car model, this is why is important to check out that small print before committing. 

Government and Campus IDs

Samsung is also introducing the ability to store your government ID, official school, or college IDs. And that's a great option to have: all your info in one spot, with the ability to access it on the go.  

Digital Asset Management Integration with Samsung Blockchain

Now, you can also manage your cryptos and other blockchain investments within your main wallet, a useful feature if you want to keep an eye on your investments, market price fluctuations, and so on. 

You can connect a crypto exchange to your Samsung Wallet or link the existing Samsung Blockchain Wallet with a few clicks. Find out more at the Samsung FAQ page.

Samsung Pay Cash

Samsung Pay Cash is a virtual prepaid card that allows users to store funds and make purchases online or in-store. The feature is available in select regions and you can top-up funds from a bank account, credit, or debit card.

Samsung Pay Cash enables you to manage your spending, making it an ideal solution for budget-conscious users or those who prefer not to link their primary bank account to their digital wallet. The new Samsung Wallet enables you to easily set up this feature right within the app.

Samsung Wallet Device compatibility

Samsung Wallet is available only on devices running Android 9 or above. Available features and content may vary by country/region, carrier, and firmware version.

Samsung Wallet Payment Compatibility

Samsung Wallet essentially inherited the payment capabilities Samsung Pay provided for digital transactions. It is compatible with select Visa, Mastercard, American Express, and Discover cards. 

Additionally, the platform supports cards from various banks and credit unions. Samsung Wallet's supported cards and financial institutions may vary by region, so it's essential to check your local Samsung Pay website for a comprehensive list.

For example, in South Korea, the app supports T-money, Cashbee, and a variety of transit cards. It also services Octopus cardholders in Hong Kong. 

Connect Your Cards

Just connect your favorite bank card to checkout with just a tap in the future. You can also connect your gift and membership cards to the Samsung Wallets by scanning the barcode or taking a picture of it. 

Samsung Wallet Advantages

Samsung Wallet Global Reach

As of the time the article was written, the Samsung Wallet platform is available in Australia, Bahrain, Brazil, Canada, China, Denmark, Finland, France, Germany, Hong Kong, India, Italy, Kazakhstan, Korea, Kuwait, Malaysia, Norway, Oman, Qatar, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Vietnam, UAE, the U.K., and the U.S. 

However, Samsung continually adds new regions, financial institutions, and card issuers to its roster, making it accessible to more users worldwide.

Samsung Wallet Security Features

Samsung Wallet prioritizes user safety by implementing several security protocols:

• Tokenization:

  Samsung Pay uses tokenization to replace sensitive card information with a unique token during transactions, reducing the risk of fraud and data breaches.

• Samsung Knox:

  Samsung's proprietary security platform, Samsung Knox, provides an additional layer of protection by monitoring for malicious activity and safeguarding users' personal and financial information. Learn more about this robust security system from the

  official Samsung Knox page

  .

• Biometric authentication:

  Users must authenticate using a fingerprint, iris scan, or PIN before making a payment,

  for even more security

  .

Loyalty and Rewards Programs

Samsung Pay supports various loyalty and rewards programs, allowing you to earn points, discounts, and cashback on your transactions. You can add your loyalty cards to the app and present them at participating retailers to earn rewards.

Samsung Wallet and Public Transit

In select regions, Samsung Wallet supports public transit cards, enabling you to pay for transportation by tapping their devices on the transit terminal. This feature simplifies the payment process and eliminates the need for physical cards.

In-app integration and Functionality

Samsung Pay is seamlessly integrated with other Samsung apps and services, such as Samsung Health and Bixby. This deep integration enhances the overall user experience by providing easy access to Samsung Pay features within the ecosystem. Additionally, the payment app allows users to make in-app and web payments, further streamlining the digital experience.

Samsung Pay vs. Samsung Wallet Compatibility

Samsung Pay

Samsung Pay offers several advantages over its competitors. Its wide compatibility is achieved through the combination of NFC and MST technologies. They enable Samsung Pay to work with a broader range of payment terminals, making it more versatile and accessible.

Samsung Wallet 

Samsung Wallet, however, does not allow purchases through Magnetic Secure Transmission (MST) payments. Nevertheless, it is still possible to make payments with a credit or debit card on any magnetic strip terminal with your Galaxy phone and Samsung Pay app.

Bear in mind the new Galaxy smartphones only include NFC for payments, this is why the use of MST will phase out gradually for all Samsung device owners.

Samsung Wallet Advantages 

Strong Security Measures 

With tokenization, Samsung Knox, and biometric authentication, Samsung Wallet provides robust security to protect your personal and financial information.

Global Reach

Samsung Pay's presence in over 30 countries and partnerships with major financial institutions make it a widely available and convenient payment solution. With more countries and regions added consistently, you can expect a comprehensive coverage of service availability for the Samsung Wallet, in the future.

Loyalty and Rewards Integration

The platform's support for various loyalty and rewards programs allows you to maximize your benefits and savings on your transactions.

Limitations of Samsung Wallet

Device Exclusivity

Samsung Wallet is only available on select Samsung smartphones and smartwatches, limiting its availability to users of other devices. This device compatibility may improve over time, so check the official Samsung page for more up-to-date info.

Regional restrictions

Samsung Pay's supported cards and financial institutions vary by region, which may affect its utility for users in some areas.

Limited Public Transit Support

While Samsung Pay supports public transit cards in select regions, this feature is not as widely available as it is on some competitor platforms, a sure way to improvement, in the future. 

Samsung Wallet for Gamers and Online Casino Players

Samsung Wallet offers a range of features that cater to the unique needs of gamers and online casino players. Here are some of the key benefits and features that make Samsung Wallet an attractive option for this group of users:

Seamless Integration with Samsung Devices

Samsung Wallet is built specifically for Samsung devices, providing a seamless user experience for gamers and online casino players who use Samsung smartphones or tablets. The app is designed to work flawlessly with Samsung's ecosystem, making it convenient for players to access and manage their financial transactions directly from their devices.

Wide Acceptance

Samsung Pay, and by extension, Samsung Wallet, is accepted at many online casinos, thanks to its compatibility with various payment networks and its growing popularity. This wide acceptance makes it easy for gamers and online casino players to use Samsung Wallet for deposits and withdrawals, streamlining their overall experience.

Tokenization for Enhanced Security

Samsung Wallet employs tokenization technology to protect users' financial information during transactions. This enhanced security is particularly beneficial for gamers and online casino players who want to ensure their financial information remains private.

Biometric Authentication

Samsung Wallet incorporates biometric authentication features, such as fingerprint scanning and facial recognition, to provide an extra layer of security. This ensures only the authorized user can access the wallet and make transactions, giving gamers and online casino players peace of mind when using their Samsung Wallet.

Support for Multiple Currencies

Although Samsung Wallet doesn't have native multi-currency support like some other eWallets, it still allows users to make international transactions and payments with ease. Many online gaming and casino platforms offer currency conversion options, enabling players to fund their accounts and withdraw winnings in their preferred currency.

Explore dApps with Samsung Blockchain

Uncover the innovative advancements blockchain technology is making towards a decentralized digital landscape. Samsung Wallet’s integration with Samsung Blockchain is your gateway into an expanding ecosystem of the latest blockchain-powered games, fintech, social media, and health dApps. All collectibles you acquire are securely stored within the Samsung Blockchain and readily accessible for future use.

Enhanced Samsung Blockchain Security

Blockchain technology is the cornerstone of future data security. Samsung Blockchain ensures your private key is stored in a single, secure location. With the added protection of Samsung Knox and the Trusted Execution Environment (TEE), your digital assets remain safeguarded.

In conclusion, as more gaming platforms and online casinos adopt Samsung Wallet as a payment option, players can expect an increasingly streamlined and enjoyable gaming experience. Learn more about it at Samsung Blockchain official page.

Get Samsung Wallet

You can download the Samsung Wallet app from the Galaxy Store. But it requires a Samsung account. Also, you can download this digital wallet from Google Play Store.

Conclusion

Samsung Wallet is an improved versatile version of Samsung Pay that provides a wide range of functionalities, both useful and convenient. However, the platform's device exclusivity and regional restrictions may limit its appeal for some users.

Nonetheless, Samsung Wallet’s unique advantages make it a strong contender in the eWallet market and an excellent choice for Samsung device owners seeking a convenient and secure payment solution.

We also evaluated other top eWallets so you could easily pick the best one for yourself. Check out our comprehensive reviews for PayPal, Apple Pay, Google Pay and Wise digital wallets.