"We have a huge member population that uses credit and debit cards. Credit cards alone saw total sales reach $1.18 billion in September," said Timothy Day, Navy Federal assistant vice president, eChannels. "Our members are very quick to adopt new technology and we are always discovering innovative ways to help them embrace emerging mobile payment trends."
Once Samsung Pay is live later this year with Navy Federal, its members can attach their eligible Visa® credit or debit cards. The service is free for Navy Federal credit and debit cardholders.
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.
"We partnered with Samsung with our members in mind. Our members want the latest mobile technology and we are proud to deliver. Samsung Pay adds to the breadth of mobile payment options we provide for our members across the globe," 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, 276 branches, and a workforce of over 12,000 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.
*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.
Contact: Brian K. Parker
Phone: (703) 206-1588
E-mail: [email protected]
SOURCE Navy Federal Credit Union