Magnetic Secure Transmission (MST)

Magnetic Secure Transmission (MST) is a technology which uses magnetic signals to transfer data between a device and a point-of-sale (POS) terminal. MST technology simulates the magnetic stripes found on many payment cards like debit cards and credit cards.

Since South Korean electronics giant Samsung purchased of MST patent holder LoopPay in 2015, MST technology has been included in a range of Samsung devices and can be used with the Samsung Pay mobile wallet.

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Daniel Dreier is editor and personal finance expert at moneyland.ch.

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