Loyalty & Rewards

Samsung Pay Makes Wallets ‘Loyal’

Samsung has seen the benefits of loyalty, and it is making it a part of its mobile wallet.

The electronics company announced yesterday (May 18) that Samsung Pay users in the U.S. will now be able to access merchant loyalty and rewards programs within the app on their Galaxy smartphones.

Citing a COLLOQUY statistic that there are an average of 30 loyalty cards in use per American household, a company press press release goes on to tout the convenience benefits of a user having all of those physical cards digitized and available in his or her mobile device.

The release adds that Samsung Pay’s new membership feature allows users to store other types of cards as well, including insurance and ID cards.

“With this new feature, Samsung Pay is giving users quick access to their favorite membership and loyalty programs and making shopping even easier,” Nana Murugesan, VP of strategy and operations for Samsung Electronics America, stated in the press release. “Right now, shoppers have several things — credit and debit cards, membership cards, coupons, gift cards — they need to take out of their wallets and scan at the register. Samsung is simplifying the checkout experience by bringing those items to your phone, representing our next step toward a world without physical wallets.”



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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