Samsung Pay gains support for new banks and gift cards in the U.S.

BY Rajesh Pandey

Published 28 Oct 2015

Samsung Pay

Samsung today announced that it is expanding the ecosystem for Samsung Pay in the U.S. by announcing support for cards issued by a bunch of banks and adding support for gift cards.

Samsung boasted in its announcement that MST is turning out to be Samsung Pay’s biggest advantage in the U.S. It also noted that there is a lot of repeat usage among Samsung Pay users, with eight transactions being done by per user of the service on an average.

“After one month, the numbers say it all: Consumers who have used Samsung Pay are using it repeatedly because it works almost anywhere you can swipe or tap a card,” said Thomas Ko, Vive President and Global Co-general Manager of Samsung Pay.  “We’re thrilled to introduce new partners that will build on our early success, and move us even closer to a world in which your mobile phone is a true mobile wallet.”

The company notes that “in the coming months,” Samsung Pay will start supporting cards issued by the following banks and financial institutions:

  • Chase
  • PNC Bank
  • TD Bank
  • SunTrust
  • Fifth Third Bank
  • Key Bank
  • Silicon Valley Bank
  • Security Service Federal Credit Union
  • Navy Federal Credit Union
  • Virginia Credit Union
  • Associated Bank
  • Randolph Brooks Federal Credit Union
  • People’s United Bank

In addition to the above banks, Samsung Pay will also work with Discover from next year.

As for gift cards, the Korean company has partnered with Blackhawk Network that will allow Samsung Pay users in the U.S. to use their gift cards across a variety of stores like grocery, fashion, entertainment, and dining.

Samsung had recently announced that Samsung Pay users in Korea had crossed the 1 million mark within 2 months of its launch.

[Via Samsung Tomorrow]