Samsung Pay Available on TSYS Terminals
LowCards is a Citi partner. View our full editorial disclaimer here.
On Monday, TSYS, a credit card processing company, announced it would accept Samsung Pay, allowing their clients and merchants the ability to offer and accept mobile payments using nearly any terminal where you can swipe or tap your card.
To use this payment method, users launch the app on their phone, log in with their fingerprint or PIN, and scan their phone over the card reader or NFC attachment.
Samsung Pay, which is available on Galaxy mobile phones, promises “several layers of security” to protect personal and financial information during transactions, as it uses digital tokenization technology instead of credit card information.
Craig Ludwig, head of product for TSYS’ Merchant Services segment, calls Samsung’s proprietary Magnetic Secure Transmission (MST) technology pioneering.
“At a time when more consumers are looking for safe, simple and widely accepted mobile payment solutions, we’re thrilled to join with Samsung Pay to bring this groundbreaking technology to life.”
Samsung Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+ and Galaxy Note5 are all compatible with Samsung Pay in the United States and Korea. There are also plans to expand to other countries in the near future.
Currently, Samsung Pay works on the AT&T, Sprint, T-Mobile and U.S. Cellular networks. It is also accepted by major credit card networks–Visa, MasterCard and American Express–as well as some big issuers such as Citi, Bank of America and U.S. Bank.