U.S. Bank, Samsung Working on New Mobile-Payments Service
March 02 2015 - 9:00AM
Business Wire
U.S. Bank has announced that it’s working with Samsung
Electronics Co. to enable U.S. Bank cardmembers to use the new
Samsung Galaxy S6 phone for credit-card transactions as the bank
continues to develop secure, convenient and innovative payment
options.
“We're thrilled to have payments become a core capability of the
mobile phone,” said Pam Joseph, vice chairman and head of U.S. Bank
Payment Services. “The result of mobile payments is that our
customers can use the same, familiar credit-card payment system but
with added security and convenience.”
Samsung Pay, developed in partnership with Visa and MasterCard,
uses both Near Field Communication (NFC) and a new proprietary
technology called Magnetic Secure Transmission (MST) to make mobile
payments more accessible to merchants and consumers than ever
before.
For more details about the technology works, please go to
www.samsungmobilepress.com, and U.S. Bank will announce details
about the service later in 2015.
About U.S. Bank
Minneapolis-based U.S. Bancorp (NYSE:USB), with $403 billion in
assets as of Dec. 31, 2014, is the parent company of U.S. Bank
National Association, the fifth largest commercial bank in the
United States. The company operates 3,176 banking offices in 25
states and 5,022 ATMs and provides a comprehensive line of banking,
investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the
web at www.usbank.com.
U.S. Bank Public RelationsMichael Bares,
612-973-1918michael.bares@usbank.com
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