Mobile Payments

Scottrade Bank Rolls Out Android Pay, Samsung Pay

Scottrade Bank, a division of Scottrade Financial Services, announced Tuesday (Dec. 13) the rollout of Android Pay and Samsung Pay to its personal banking clients. In a press release, Scottrade said that, with Android Pay and Samsung Pay, Scottrade Bank now offers multiple mobile payment solutions. Earlier this year, the bank began offering Apple Pay and mobile check deposit.

“The use of mobile payments is growing, and Scottrade Bank is pleased to offer our clients banking services that make their lives easier,” said Chris McComish, president of Scottrade Bank, in the press release. “Layering Android Pay and Samsung Pay into our mobile solutions allow our clients additional, simple ways to interact with millions of retailers.”

Android Pay uses contactless payment systems to send payment to a merchant — either in-store or for payment in mobile apps. Rather than sending your actual debit card number with your payment, it uses a virtual account number to represent your account information. Android Pay is compatible with the Android operating system “Kit Kat” or newer and works with most Nexus, Samsung, LG, HTC and Motorola phones, the company said in the press release.

Scottrade and U.S. banks aren’t the only ones embracing Android Pay. In September, DigitalLook reported four banks based in the United Kingdom have signed onto the payments platform. The quartet, which includes Royal Bank of Scotland, Santander, Natwest and Ulster Bank, threw in their lots with the Google payments offering, which launched earlier this year. The site posited back then that the latest announcement represents “welcome news for Google, as previous skepticism from certain groups held up its development for customers.”

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The July 2019 Pay Advances: The Gig Economy’s New Normal, a PYMNTS and Mastercard collaboration, examines pay advances – full or partial payments received before an ad hoc job is completed – including how gig workers currently use them and their potential for future adoption.

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