HOUSTON, May 4, 2016 /PRNewswire/ --Now there are more ways for BBVA Compass customers to make purchases, thanks to the integration of Android Pay and Samsung Pay for BBVA Compass cardholders.
Android Pay and Samsung Pay, the mobile payments solutions from Google and Samsung, let BBVA Compass customers pay with their supported Samsung and Android phones instead of using their BBVA Compass Visa debit, credit or prepaid cards. The introduction of the mobile payments functionality underscores BBVA Compass' drive to provide more and varied ways for its customers to bank digitally.
"In today's fast paced world, it's imperative that we ensure our customers' need for convenience is kept at the forefront," said BBVA Compass Director of Payments Ryan Kraynick. "Android Pay and Samsung Pay are payment options that may make customers' lives a little easier."
Users will continue to receive all of the rewards and beneﬁts offered by their BBVA Compass credit and debit cards.
Android Pay is accepted anywhere Near Field Communication (NFC) terminals are available, across millions of locations in the United States, as well as in hundreds of Android apps.
Samsung Pay also processes payments using NFC terminals. In addition, Samsung Pay features its proprietary Magnetic Secure Transmission (MST) technology, which enables acceptance at traditional magnetic stripe terminals.
For added security, Android Pay and Samsung Pay assign a token to BBVA Compass customers' phones. The token will be used to make purchases without the customer's card number being passed to the merchant with payment. Additionally, the customer's card number is not stored within Android Pay, Samsung Pay or on the mobile device.
"The safety and security of our customers' information is our top priority, and we're proud of the added level of protection offered by Android Pay and Samsung Pay to our customers," Kraynick said. "Our customers can rest assured that we are committed to bringing them financial innovations, in the most secure way possible."
Android Pay and Samsung Pay join Apple Pay and the proprietary BBVA Wallet in BBVA Compass' suite of mobile wallet and payment solutions.
About BBVA Group
BBVA Compass is a subsidiary of BBVA Compass Bancshares Inc., a wholly owned subsidiary of BBVA (NYSE: BBVA) (MAD: BBVA). The BBVA Group is the largest financial institution in Spain and Mexico, has leading franchises in South America and the Sunbelt region of the United States and is also the leading shareholder in Garanti, Turkey's largest bank based on market capitalization. Its diversified business is focused on high-growth markets and it relies on technology as a key sustainable competitive advantage. Corporate responsibility is at the core of its business model. BBVA fosters financial education and inclusion, and supports scientific research and culture. It operates with the highest integrity, a long-term vision and applies best practices. The Group is present in the main sustainability indexes. More information about the BBVA Group can be found at bbva.com.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 674 branches, including 345 in Texas, 89 in Alabama, 75 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico, and commercial and private client offices throughout the U.S. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (4th). BBVA Compass recently earned top nods for best mobile app and best regional bank in the South & West in Money magazine's annual list of the Best Banks in America. Additional information about BBVA Compass can be found at bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com.
BBVA Compass is a trade name of Compass Bank.
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SOURCE BBVA Compass