Samsung Pay Debuts Strong

The mobile payment solution registered good sales during the first month of its U.S. launch.

November 04, 2015

SAN JOSE, Calif. – Since its introduction four weeks ago, Samsung Pay has had a good response from consumers, Chain Store Age reports. The mobile payment solution joins Apple Pay and others as an alternative to credit and debit cards. According to Samsung Electronics, U.S. shoppers used Samsung Pay for an average of eight transactions apiece over the past month.

Soon, Samsung Pay will have more support, with cards from Associated Bank, Chase, Fifth Third Bank, Key Bank, Navy Federal Credit Union, People’s United Bank, PNC Bank, Randolph Brooks Federal Credit Union, Security Service Federal Credit Union, Silicon Valley Bank, SunTrust, TD Bank and Virginia Credit Union being on the accepted list. Beginning in January, Discover will also partner with Samsung Pay.

Another feature is the ability of shoppers to use gift cards on their phones via Blackhawk Network, which includes many retailers. By the close of 2015, users will be able to add and pay with a gift card directly from their phone.

Samsung Pay already has relationships with the four payment networks and numerous large financial firms. “After one month, the numbers say it all: Consumers who have used Samsung Pay are using it repeatedly because it works almost anywhere you can swipe or tap a card,” said Thomas Ko, vice president and global co-general manager of Samsung Pay. “We’re thrilled to introduce new partners that will build on our early success, and move us even closer to a world in which your mobile phone is a true mobile wallet.”

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