COLUMBUS, Ga.--(BUSINESS WIRE)--TSYS (NYSE: TSS) today announced its relationship with Samsung Pay, which will offer TSYS clients — both issuing banks and acquirers — and their merchants a simple and safe way to offer and accept mobile payments using nearly any terminal where you can swipe or tap your card.
Combining Samsung’s pioneering Magnetic Secure Transmission (MST) technology with Near Field Communication (NFC), Samsung Pay is compatible with nearly all existing payment terminals where you can swipe or tap your card, allowing merchants to quickly and easily accept secure payments from customers using their Samsung phones.
“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,” said Craig Ludwig, head of product for TSYS’ Merchant Services segment. “We look forward to supporting our clients as they offer secure and convenient mobile payment acceptance for their customers.”
Samsung Pay will be available on the Samsung Galaxy S6, Galaxy S6 edge, Galaxy S6 edge+ and Galaxy Note5 beginning September 28 in the United States. Samsung Pay is currently available in Korea, and plans are already underway for expansion in other countries.
“TSYS is a valued partner to help Samsung bring mobile payment from every-once-in-a-while to almost anywhere,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay. “With Samsung Pay, customers can shop like it’s yesterday and pay like it’s tomorrow. They can use the only mobile payment option that works almost anywhere you can swipe or tap your card today.”
To make a payment, consumers launch the Samsung Pay app, authorize their purchase with a touch of a finger and hold the back of the Samsung device to a card reader or NFC dongle. TSYS is committed to upholding security and user data privacy to the highest industry standards. Samsung Pay uses a digital tokenization instead of payment card information for every transaction and consent for payment must be authorized by fingerprint or pin.
At TSYS® (NYSE: TSS), we believe payments should revolve around people, not the other way around. We call this belief People-Centered Payments®. By putting people at the center of every decision we make, TSYS supports financial institutions, businesses and governments in more than 80 countries. Through NetSpend®, A TSYS Company, we empower consumers with the convenience, security, and freedom to be self-banked. TSYS offers issuer services and merchant payment acceptance for credit, debit, prepaid, healthcare and business solutions.
TSYS’ headquarters are located in Columbus, Ga., U.S.A., with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS is a member of The Civic 50 and was named one of the 2015 World's Most Ethical Companies by Ethisphere magazine. TSYS routinely posts all important information on its website. For more, please visit us at www.tsys.com.
About Samsung Pay
Samsung Pay is a simple, safe and available almost anywhere you can swipe or tap your card mobile payment service from Samsung Electronics. Combining NFC with Samsung’s proprietary MST technologies, Samsung Pay provides consumers a way to pay nearly anywhere you can swipe or tap a card at millions of merchant locations worldwide. Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience. Visit www.samsung.com/pay to learn more.
*Some card reader terminals may require software updates to be compatible with Samsung Pay.
About Samsung Electronics America, Inc.
Headquartered in Ridgefield Park, NJ, Samsung Electronics America, Inc. (SEA), is a recognized innovation leader in consumer electronics design and technology. A wholly owned subsidiary of Samsung Electronics Co., Ltd., SEA delivers a broad range of digital consumer electronics, IT and home appliance products. Samsung is the market leader for HDTVs in the U.S. and America’s fastest growing home appliance brands. To discover more of the award-winning products you love with Samsung, please visit www.samsung.com.
About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. inspires the world and shapes the future with transformative ideas and technologies, redefining the worlds of TVs, smartphones, wearable devices, tablets, cameras, digital appliances, printers, medical equipment, network systems, and semiconductor and LED solutions. We are also leading in the Internet of Things space through, among others, our Smart Home and Digital Health initiatives. We employ 319,000 people across 84 countries with annual sales of US $196 billion. To discover more, please visit our official website at www.samsung.com and our official blog at global.samsungtomorrow.com.