When comparing Samsung Pay vs Softcard, the Slant community recommends Samsung Pay for most people. In the question“What are the best contactless payment options?” Samsung Pay is ranked 4th while Softcard is ranked 5th. The most important reason people chose Samsung Pay is:
Samsung Pay supports Magnetic Secure Transmission technology that allows using the phone to swipe near a credit card swipe reader to pay. The technology currently is only supported in Galaxy S6 and Galaxy S6 Edge phones.
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Pros
Pro Can be used with a traditional credit card swipe reader
Samsung Pay supports Magnetic Secure Transmission technology that allows using the phone to swipe near a credit card swipe reader to pay. The technology currently is only supported in Galaxy S6 and Galaxy S6 Edge phones.
Pro 4-digit PIN provides added security through secondary authentication
4-digit PIN that has to be entered before any transaction can take place adds secondary authentication and makes sure that nothing gets bought by accident.
Cons
Con Killer feature is limited to a subset of smartphones
Magnetic Secure Transmission technology that allows using the phone to swipe near a credit card swipe reader to pay is only supported in Galaxy S6 and Galaxy S6 Edge phones.
Con No tokenization
Real credit card information is provisioned to the SIM card.