Samsung-Pay3

Samsung Pay Gains Support for 19 More Banks

December 15, 2015 - Written By Alexander Maxham

Since Samsung launched Samsung Pay about 3 months ago now, they have continued to add more banks, payment processors and loyalty cards. They have also had a few promotions to help Samsung Pay gain momentum. There are already countless banks, credit cards and card issuers on board. On Tuesday, Samsung announced that they have added 19 new banks to the service.

These banks all use either Visa or Mastercard as their payment processor. On the Visa side, these include PNC, KeyBank, TCF Bank, Central Florida Educators Federal Credit Union, Financial Center Federal Credit Union, Greater Kinston Federal Credit Union, Keypoint Credit Union, Numerica Credit Union, Utah Community Credit Union, and the Pentagon Federal Credit Union. Meanwhile on the MasterCard side, Samsung has added Achieva Credit Union, Associated Bank, Bayport Credit Union, Bethpage Federal Credit Union, Cambridge Savings Bank, USC Credit Union, and Navy Federal Credit Union.

Samsung Pay is now the most adopted mobile payment system, and the reason for this is likely due to how easy it is to use Samsung Pay. Seeing as the other mobile payment solutions out there – Apple Pay and Android Pay – use NFC, Samsung uses NFC but it also uses Magnetic Secure Transmission. So any terminal that you can swipe your card at, can also be used for Samsung Pay. This means that merchants don’t need to upgrade their terminals for their customers to use Samsung Pay, unlike Android and Apple Pay.

Recently Samsung began a new promotion to get users to use Samsung Pay. If you are planning to buy a new Galaxy S6, Galaxy S6 Edge, Galaxy S6 Edge+ or Galaxy Note 5 you can get $200 off of your purchase by activating Samsung Pay. However you do need to submit a claim to get that $200 credit. So it’ll likely take a couple of weeks. But it’s still a pretty great promotion to be able to take advantage of. If you haven’t given Samsung Pay a chance yet, be sure to check it out. It works at more merchants than any other service, and works really well, surprisingly.