Mobile Payments

BBVA Supports Android Pay, Samsung Pay

BBVA Compass has thrown its support behind two major mobile payment services: Android Pay and Samsung Pay.

The financial institution announced that it has now made the services available for its cardholders, underscoring “BBVA Compass’ drive to provide more and varied ways for its customers to bank digitally,” the company said.

“In today’s fast-paced world, it’s imperative that we ensure our customers’ need for convenience is kept at the forefront,” said BBVA Compass Director of Payments Ryan Kraynick. “Android Pay and Samsung Pay are payment options that may make customers’ lives a little easier.”

In the announcement about the new support, the bank noted that users will still receive the same rewards and benefits on their BBVA Compass credit and debit cards. In lauding its support, it touted the security benefits of the two mobile payments services, reminding consumers that the customer’s card number is not stored within Android Pay, Samsung Pay or on the mobile device.

“The safety and security of our customers’ information is our top priority, and we’re proud of the added level of protection offered by Android Pay and Samsung Pay to our customers,” Kraynick said. “Our customers can rest assured that we are committed to bringing them financial innovations, in the most secure way possible.”

This decision leads to Android Pay and Samsung Pay joining Apple Pay and the proprietary BBVA Wallet in BBVA Compass’ suite of mobile wallet and payment solutions.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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