Navy Federal Credit Union, the world’s largest credit union, is adding Samsung Pay as a mobile payment option for its nearly six million members worldwide. The CU says credit cards alone saw total sales reach $1.18 billion in September.
Once Samsung Pay is live later this year with Navy Federal, its members can attach their eligible Visa® credit or debit cards. The service is free for Navy Federal credit and debit cardholders.
Samsung Pay works on Galaxy S6, Galaxy S6 edge, Galaxy Note5 and Galaxy S6 edge+ devices. A simple and safe mobile payment service, Samsung Pay works almost anywhere you can swipe or tap your card.
• SIMPLE: To make a payment on Samsung Pay, users can simply swipe up, scan their fingerprint and pay.
• SAFE: Samsung Pay uses tokenization, Samsung KNOX, and fingerprint authentication to provide secure payments. And, as terminals are upgraded to EMV, that security is leveraged too.
• ALMOST ANYWHERE: Samsung Pay is compatible with most existing and new terminals, including most magnetic stripe, EMV and NFC terminals*. That means Samsung Pay works at more places than any other mobile payment service.
Navy Federal Credit Union is the world’s largest credit union with more than $72 billion in assets, 5.9 million members, and 276 branches.
Combining NFC with Samsung’s proprietary MST technologies, Samsung Pay provides consumers a way to pay almost anywhere you can swipe or tap a card at millions of merchant locations.
For data, background and forecasts on 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].
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).