While lagging a bit on introducing Apple Pay, Discover is jumping on the Samsung Pay train big time. Discover cardmembers will obtain access to Samsung Pay in 2016.
When Discover cardmembers use Samsung Pay, they will continue to earn rewards and will continue to have protection against unauthorized purchases on their Discover card account.
Samsung Pay combines Magnetic Secure Transmission (MST) technology with Near Field Communication (NFC), making it compatible with nearly all existing payment terminals and allowing Discover’s cardmembers to quickly and easily make payments through their Samsung phones at millions of merchant locations.
Samsung Pay will be available on the Samsung Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+, and Galaxy Note 5 this fall in the United States and Korea. Discover cardmembers will obtain access to Samsung Pay in 2016.
Samsung Pay uses tokenization instead of payment card information for every transaction and consent for payment must be authorized by the cardholder with a fingerprint or a PIN. To make a purchase at the point-of-sale, Discover cardmembers will simply swipe up on eligible Samsung devices, scan their fingerprint and pay.
For data, background and forecasts on Discover or Samsung Pay: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
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