Samsung Pay is Samsung Electronics' wallet service that lets Galaxy smartphone users pay with a card tokenized and stored on their device. It is also available in Canada, but since its user base is limited to Galaxy device owners, it is realistic to view it as a complementary method that reinforces the experience for Galaxy users within the Android camp, after Apple Pay and Google Pay are already in place.

It is best suited for merchants that already operate wallet-type payments and have a large share of Android customers, as a way to round out the completeness of their payment options. It should be judged from a coverage-enhancement perspective rather than expecting a conversion-rate change from standalone adoption.

This is an online method where a Galaxy device user selects Samsung Pay at the in-app or web checkout, and approval proceeds via biometric authentication using the card tokenized and stored on the device. A token is transmitted instead of the actual card number, and funds flow the same way as with other wallet-type methods: through Hecto Financial's CAD receipt and conversion, settled in the contracted currency among USD, KRW, and JPY.

By integrating through Hecto Financial, a Korean corporation can consider adopting Samsung Pay payments without a separate local contract in Canada. Since service coverage varies by market for this method, please confirm support availability for Canadian online channels along with fees and settlement conditions with the Hecto Financial sales team before signing a contract.

• Business registration country

  Confirm contract eligibility for businesses registered in Korea

• Sales channels

  Integration method and priority differ depending on your online sales channel mix — own site, marketplace, mobile app, etc.

• Product categories

  You need to check in advance whether your product category falls under Samsung Pay's restricted-industry merchant policy

• Local regulatory compliance

  Confirm compliance with Canada's payment and foreign exchange regulations (see official sources below)

The settlement structure can be summarized as 'CAD revenue, settled in one of three chosen currencies.' Funds from Canadian consumers' Samsung Pay payments are received by Hecto Financial in CAD, converted, and paid to the merchant in the USD, KRW, or JPY specified in the contract. Refunds are returned to the card based on the tokenized original transaction, and the specific timeline follows the contract terms.

• Bank of Canada, Payments CanadaOfficial information on Canada's payment systems and clearing rules. If the content on this page differs from actual regulations, the official source takes precedence.