Samsung Pay is supported by Visa Token Service technology which is designed to enable secure payments with a broad range of connected devices. This new innovative technology from Visa replaces sensitive payment account information found on plastic cards, such as the 16-digit account number, expiration date and security code, with a unique series of numbers that can be used to authorize payment without exposing actual account details – helping to make mobile payments safer for everyone, everywhere.
“Working in partnership with
To make Visa purchases in-store with Samsung Pay, users will simply select their preferred Visa account and hold the device near a payment terminal. The new Samsung Galaxy S6 is equipped with both Near Field Communication (NFC) and Magnetic Secure Transmission (MST) technology that enable the device to wirelessly transmit payment information to either a contactless or traditional magnetic stripe merchant terminal.
“Samsung’s vision for mobile payments and commerce is rooted in secure, simple, and convenient user experiences. Our partnership with Visa realizes this vision by combining Visa’s secure tokenized service with Samsung’s unique MST (Magnetic Secure Transmission) and NFC technologies. Samsung Pay enables consumers to make simple and secure mobile payments at most merchant POS terminals,” says Dr.
Samsung Pay is scheduled to launch during the summer of 2015 in the U.S. The new service will be made available to eligible Visa account holders from U.S. financial institutions participating in the Samsung Pay program.
For more information visit: www.visa.com/digitalsolutions.
Elvira Swanson, +1 650-504-4537 (text)
Aida Hadzibegovic, +1 650-421-5169
Visa Inc. / Canada
Michele Michalak, +1 416-860-8895
Visa Inc. / CEMEA
Mistry Jagruti, +97 156 682 4213
Visa Inc. / LAC
Militza Gonzales, +1 305-328-1325
Visa Inc. / AP
Zoe Hibbert, + 65 66715758