TSYS announced its relationship with Samsung Pay, which will offer TSYS clients — both issuing banks and acquirers — and their merchants a simple and safe way to offer and accept mobile payments using nearly any terminal where you can swipe or tap your card.
Combining Samsung’s pioneering Magnetic Secure Transmission (MST) technology with Near Field Communication (NFC), Samsung Pay is compatible with nearly all existing payment terminals where you can swipe or tap your card, allowing merchants to quickly and easily accept secure payments from customers using their Samsung phones.
“At a time when more consumers are looking for safe, simple and widely accepted mobile payment solutions, we’re thrilled to join with Samsung Pay to bring this groundbreaking technology to life,” said Craig Ludwig, head of product for TSYS’ Merchant Services segment. “We look forward to supporting our clients as they offer secure and convenient mobile payment acceptance for their customers.”
Samsung Pay will be available on the Samsung Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+ and Galaxy Note5 beginning September 28 in the United States. Samsung Pay is currently available in Korea, and plans are already underway for expansion in other countries.
“TSYS is a valued partner to help Samsung bring mobile payment from every-once-in-a-while to almost anywhere,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay. “With Samsung Pay, customers can shop like it’s yesterday and pay like it’s tomorrow. They can use the only mobile payment option that works almost anywhere you can swipe or tap your card today.”
To make a payment, consumers launch the Samsung Pay app, authorize their purchase with a touch of a finger and hold the back of the Samsung device to a card reader or NFC dongle. TSYS is committed to upholding security and user data privacy to the highest industry standards. Samsung Pay uses a digital tokenization instead of payment card information for every transaction and consent for payment must be authorized by fingerprint or pin.