Even though Samsung talked up MST, its payment system will also work with NFC. (NASDAQ:AAPL) Pay and Android Pay, which use Near Field Communication sensors to process purchases, Samsung Pay will employ a technology known as Magnetic Secure Transmission. And as you must already be aware, Samsung is using LoopPay’s tech, the company it acquired in February, to drive its Samsung Pay.

So as numerous mobile payment approaches inch along and grow, the obvious question is around the future of MCX and whether it will ever make it to market. Apart from providing incentives like loyalty programs or offers, the best way to encourage usage is by making the payment method easy and its availability widespread.

Tech companies aren’t the only ones developing contactless payment systems. However, the technology won’t work with terminals that require you to fully insert your card, like ATMs or card readers in subway stations. And while Samsung Pay works with more merchants, acceptance isn’t universal because of technical and behavioral constraints. Samsung Pay, on the other side, is a more consumer-oriented product. Apple Pay has in-app support, too, but Samsung Pay does not. Let us know in the comments. The average American spends about $20,000 on retail and food services.

Part of the reason was that many major merchants were members of MCX and essentially not allowed by contract to use other mobile payment systems ahead of MCX. Android Pay will come out later this year in the U.S., while Apple Pay launched in the U.S. last October and expanded to the United Kingdom last month. Soon after the purchase, Samsung put LoopPay’s co-founder, Will Graylin, to work on implementing MST into Samsung devices and software. Exactly how the model will be structured is still an open question, but Samsung Pay is about more than payments – it’s about building a new commerce ecosystem. A full list isn’t available yet, but it will include cards from Bank of America, Chase, Citi and U.S. Bank, along with scores of store-branded cards, including Sleepy’s and PC Richard. You only need to load a card once by either entering it in manually or taking a picture of the front/back of the card.

“First Data is proud to collaborate with Samsung on the launch of Samsung Pay and we look forward to working together to bring a powerful solution to the marketplace”, said Barry McCarthy, Executive Vice President, Network and Security Solutions, First Data. The token is then returned to the user’s smartphone.

“If you start to use Samsung Pay you will be able to use it everywhere”, he said.

If you’re anxious about the phone tracking your history you can choose to opt out of that feature.

Merchants must upgrade their payment terminals by Oct.so they can read the chips on the cards.