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MasterCard Welcomes Samsung Pay

MasterCard cardholders in the U.S. will have a new way to pay this fall.

The company announced today its cardholders will be able to add Samsung Pay to the growing list of payment options available for their MasterCard consumer credit, debit, small business and select prepaid cards.

The transactions of cardholders who pay via Samsung Pay will be powered by the MasterCard Digital Enablement Service (MDES) payment technology, which will ensure every purchase receives the same protection of a digital MasterCard transaction, including the security of tokenization.

Samsung Pay will be accepted at nearly every merchant terminal in the U.S., but cardholders can also use the MasterCard Nearby app to locate merchants that accept contactless payments.

MasterCard first confirmed plans to partner with Samsung to bring Samsung Pay to its cardholders earlier this year.

"This is an exciting time for payments,” Ed McLaughlin, MasterCard’s chief emerging payments officer, said in the press release at the time. “As consumers are increasingly relying on their mobile devices in their everyday lives, we are excited to work with an industry leader like Samsung to deliver new payment options to our cardholders around the world. We have been a pioneer of mobile commerce innovation for years and together we’re delivering a digital payment experience that is both simple and secure."

In just a few months, MasterCard will extend its digital enablement service to power Samsung Pay’s European launch.

Upon the launch of the service, European card issuers will also have the ability to connect to the MDES to enable Samsung Pay, which will allow consumers to pay at contactless or mag stripe POS terminals using its built-in NFC and magnetic secure transmission (MST) technologies.

Samsung Pay will come preloaded on the latest Samsung devices and will be made available as a free software update on existing devices such as the Galaxy S6 and S6 edge.

To learn more about how MasterCard cardholders can integrate their card into Samsung Pay, check out the video below:

To check out what else is HOT in the world of payments, click here.

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