Magnetic secure transmission

Magnetic secure transmission (MST) is a technology used in devices such as a smartphone that emits a magnetic signal that mimics the magnetic stripe on a traditional payment card. MST sends a magnetic signal from the device to the payment terminal's card reader. It emulates swiping a physical card without having to upgrade the terminal's software or hardware. MST technology is accepted at nearly all payment terminals with a card reader.[1]

Outside of physical transmission, there are no changes to the magnetic stripe card system (i.e., reception, processing, information content, and cryptographic protocols). However, the information being transmitted being dynamic may allow tokenization.

MST is designed to transmit from within 3 in (76 mm) of the magnetic card reader.[2]

It is currently used by Samsung, and LG is reported to be planning to use it.[3]

References

  1. ↑ "What is MST (Magnetic Secure Transmission)?". Samsung Electronics America. Retrieved 2017-05-23.
  2. ↑ http://www.paymentsleader.com/what-does-it-all-mean-to-me/
  3. ↑ "LG will launch its own mobile payments service in June, starting with the G6". Android Authority. 22 March 2017. Retrieved 29 May 2017.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.