Magnetic secure transmission

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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]