[Public Affairs] Samsung Pay
As the most accepted mobile payment system, Samsung Pay is setting a new industry standard for simple and safe digital commerce.
It works almost anywhere you can swipe or tap your card*
Spend how you want. MST technology supports eligible credit, debit, pre-paid and private label cards and a partner ecosystem, giving users the ability to store payment methods on Samsung Pay.
Spend where you want. For the first time ever, consumers will be able to spend almost anywhere that you can swipe a physical card at millions of merchant locations.
Samsung accomplishes this by combining the existing Near Field Communication payment method with its proprietary Magnetic Secure Transmission (MST) technology.
Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience.
It only takes the user three steps, starting by swiping/opening up the app, followed by a touch point authentication and a three-second transaction period to make a payment. The seamless and convenient transaction process will motivate consumers to move from cash to mobile, and will be encouraged by retailers who want to speed up check-out lines and reach more customers.
Samsung Pay uses tokenization, Samsung Knox, and fingerprint authentication to provide secure payments between you and your payment network. The layered security features in Samsung Pay therefore builds confidence not only for the consumer, but for merchants and financial institutions as well.
Tokenization. When the credit card is stored on the Samsung Pay app, only the last four digits of your card still appear in the app when you look at the card art.
When your card details are transferred to the merchant during a transaction, all digits of your account numbers are completely tokenized to reinforce protection and privacy of users’ personal credit card data.
Samsung KNOX™ Samsung’s industry-leading KNOX security platform constantly monitors for suspicious activity associated with Samsung Pay, so any user information is thoroughly protected from both internal data breaches and outside intruders.
*Only compatible with select cards, carriers and Samsung devices; see www.samsungpay.com for compatibility information.
**Samsung Pay is only compatible with select Visa, MasterCard and American Express cards from the participating banks, credit unions and other
partners listed above. Check with your bank or credit union or other partner to ensure that your card is compatible with Samsung Pay; and check
www.samsungpay.com for additional compatibility information regarding devices, carriers and cards.
***As of December 10, 2015, Samsung Pay supports more than 50 popular merchant gift cards in partnership with Blackhawk Network. With more
gift card options forthcoming, this is the first and only mobile payment system of its kind that allows you to purchase, reload, pay with, and share
gift cards right from your Samsung phone. In addition to using these cards in stores across the U.S., Samsung Pay will also support the direct
purchase of certain gift cards within the app itself. Please visit the Samsung Pay website to view the list of participating gift card merchants.