First Data announced today that Samsung Pay, the latest mobile wallet to hit the market, will be accepted at First Data supported POS devices. Samsung Pay uses Magnetic Secure Transmission (MST) and Near Field Communication (NFC), so consumers with Samsung’s Galaxy S6 phones and the Samsung Pay app are compatible with nearly all payment terminals:
“First Data continues to lead the way in enabling mobile commerce globally,” said Barry McCarthy, Executive Vice President and Head of Network and Security Solutions at First Data. “With the launch of Samsung Pay, we are extending our innovative technology to ensure that, as consumers increasingly move to digital payments, First Data can enable any card in any digital wallet.”
The payments industry will be watching to see if the acceptance location advantage that Samsung has will help it to win the wallet wars against Apple Pay and Android Pay:
First Data 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.”
Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group
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