The largest provider of private label credit cards in the U.S.announced the benefits and features available on Synchrony Bank-issued private label credit cards will be easily accessed by the upcoming Samsung Pay.
Leveraging both Magnetic Secure Transmission (MST) and Near Field Communication (NFC) technologies, Samsung Pay is compatible with most existing payment terminals and allows Synchrony Financial’s partners and customers to enjoy the benefits that our retail cards offer as well as the secure, convenient mobile payment functionality they desire.
All of Synchrony Bank’s Payment Solutions and CareCredit cards, including 12 million average active accounts accepted at nearly 300,000 locations, are capable of being provisioned for Samsung Pay when it launches next month.
The Samsung Pay app is locked by fingerprint or PIN making it immediately more secure than a traditional wallet. All Synchrony Bank private label credit card accounts in Samsung Pay will be device-specific and domain-restricted tokens, meaning they will only work in the merchant’s store, providing additional security.
For data, background and forecasts on Synchrony: 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].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).