Discover to Bring Samsung Pay to Cardmembers
14 August 2015 - 2:00AM
Business Wire
Cardmembers Will Have Ability to Make Mobile
Payments Using Samsung Phones
Today Discover announced plans to allow Discover cardmembers in
the U.S. to use Samsung Pay, a simple way to make payments through
Samsung brand mobile phones.
Samsung Pay combines Magnetic Secure Transmission (MST)
technology with Near Field Communication (NFC), making it
compatible with nearly all existing payment terminals and allowing
Discover’s cardmembers to quickly and easily make payments through
their Samsung phones at millions of merchant locations.
Samsung Pay will be available on the Samsung Galaxy S6, Galaxy
S6 edge, Galaxy S6 edge+, and Galaxy Note 5 this fall in the United
States and Korea. Discover cardmembers will obtain access to
Samsung Pay in 2016.
“Discover remains committed to providing cardmembers with
simple, convenient and versatile payment options,” said Diane
Offereins, Discover’s president of payment services. “Adding
Samsung Pay expands our ability to offer innovative and secure
mobile payment services, enhancing the customer experience that
cardmembers have come to expect from Discover.”
Samsung Pay uses tokenization instead of payment card
information for every transaction and consent for payment must be
authorized by the cardholder with a fingerprint or a PIN. To make a
purchase at the point-of-sale, Discover cardmembers will simply
swipe up on eligible Samsung devices, scan their fingerprint and
pay. When Discover cardmembers use Samsung Pay, they will continue
to earn rewards and will continue to have protection against
unauthorized purchases on their Discover card account.
For more information on Samsung Pay, visit www.samsung.com
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover card, America's cash rewards
pioneer, and offers private student loans, personal loans, home
equity loans, checking and savings accounts, certificates of
deposit and money market accounts through its direct banking
business. It operates the Discover Network, with millions of
merchant and cash access locations; PULSE, one of the nation's
leading ATM/debit networks; and Diners Club International, a global
payments network with acceptance in more than 185 countries and
territories. For more information, visit
www.discover.com/company.
This press release contains forward-looking statements. Such
statements are based upon the current beliefs and expectations of
management and are subject to significant risks and uncertainties.
The following factors, among others, could cause actual results to
differ materially from those set forth in the forward-looking
statements: unexpected difficulties or delays in executing the
proposed arrangements. The forward-looking statements speak only as
of the date of this press release, and there is no undertaking to
update or revise them as more information becomes available.
Additional factors that could cause results to differ materially
from those described in the forward-looking statements can be found
under "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" in Discover’s Annual
Report on Form 10-K for the year ended December 31, 2014, and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations in the Company's Quarterly Report on Form
10-Q for the quarter ended June 30, 2015, which are on file with
the SEC and available at the SEC's website at www.sec.gov.
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DiscoverAbbe Kalina, 224/405-5175abbekalina@discover.com
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