VIENNA, Va., Nov. 23, 2015 /PRNewswire/ -- Navy Federal Credit Union launched Samsung Pay* for its nearly six million Visa® debit and credit cardholders worldwide today. Navy Federal Visa cardholders can now pay for items directly from their Samsung devices from almost any merchant that accepts Visa cards.
"Our members who use Samsung Pay will be able to use their Navy Federal cards at 90 percent of terminals at point of sale," said Timothy Day, Navy Federal assistant vice president, eChannels. "This is a huge advantage as Navy Federal continues to partner with mobile wallet options, making payments more convenient for our members."
Eligible Navy Federal members will be able to use both credit and debit cards. Business account holders who are eligible to use Samsung Pay can use their credit or check card.
Samsung Pay works on Galaxy S6®, Galaxy S6 edge®, Galaxy Note5® and Galaxy S6 edge+® devices. A simple and safe mobile payment service, Samsung Pay works almost anywhere you can swipe or tap your card.
- SIMPLE: To make a payment on Samsung Pay, users can simply swipe up, scan their fingerprint and pay.
- SAFE: Samsung Pay uses tokenization, Samsung KNOX™, and fingerprint authentication to provide secure payments. And, as terminals are upgraded to EMV®, that security is leveraged too.
- ALMOST ANYWHERE: Samsung Pay is compatible with most existing and new terminals, including most magnetic stripe, EMV and NFC terminals**. That means Samsung Pay works at more places than any other mobile payment service.
"Partnering with Samsung for this mobile payment option makes sense for our members because of their high adoption of mobile technology. We are always looking to provide options for members - Samsung Pay adds to those options," Day said.
About Navy Federal Credit Union: Navy Federal Credit Union is the world's largest credit union with more than $72 billion in assets, 5.9 million members, 277 branches, and a workforce of over 13,000 employees worldwide. The credit union serves all Department of Defense and Coast Guard active duty, civilian, and contractor personnel and their families. For additional information about Navy Federal, visit www.navyfederal.org.
About Samsung Pay
Samsung Pay, a mobile payment service from Samsung Electronics, is simple, safe and available almost anywhere you can swipe or tap your card. Combining NFC with Samsung's proprietary MST technologies, Samsung Pay provides consumers a way to pay almost anywhere you can swipe or tap a card at millions of merchant locations. 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. Samsung Pay is compatible only with select cards and Samsung devices. Visit www.samsung.com/pay to learn more.
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.
Navy Federal is federally insured by NCUA. *Message and data rates may apply. Terms and Conditions are available. Samsung, Samsung Pay, Samsung Galaxy, and Samsung KNOX are trademarks or registered trademarks of Samsung Electronics Co., Ltd. Only compatible with select cards, carriers and Samsung devices; see the Samsung Pay Support page for compatibility information. EMV is a registered trademark in the U.S. and other countries, and is an unregistered trademark in other countries, owned by EMVCo.
**Some card reader terminals may require software updates to be compatible with Samsung Pay.
Contact: Brian K. Parker
Phone: (703) 206-1588
SOURCE Navy Federal Credit Union