Samsung Pay will now support eligible Wells Fargo credit and debit cards. With the addition of Wells Fargo, Samsung Pay now supports eligible credit and debit cards from 70 banks and credit unions, covering over 70 percent of the US credit and debit card market.
Samsung Pay announced last week that about five million registered users processed over 500 million dollars in the first six months, showing a strong adoption rate in South Korea and the U.S. This also demonstrates the increasing use of Samsung Pay for its convenience, flexibility and security.
Samsung Pay supports all major payment networks and many of the country’s major banks. It continues to expand its partnership ecosystem.
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.
Samsung Pay is compatible with the majority of 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.
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