MasterCard Extends Partnership with Samsung to Deliver Samsung Pay in Europe
July 30 2015 - 3:00AM
Business Wire
Agreement Will Bring SAMSUNG PAY to
MasterCard Cardholders in Europe
MasterCard and Samsung Electronics Co., Ltd today announced they
are extending their global partnership leveraging the MasterCard
Digital Enablement Service (MDES) to deliver Samsung Pay in Europe.
Samsung Pay is a mobile payment service that will enable
consumers to use their Samsung flagship mobile devices to make
every day in-store purchases at contactless and magnetic stripe
terminals leveraging NFC and MST technologies.
European card issuers will be able to connect to the MDES
platform and activate the Samsung Pay service upon launch.
Cardholders can activate their credit, debit, reloadable prepaid
and small business cards from participating issuers in the Samsung
Pay service and use their mobile devices to make everyday
purchases. Earlier this year, MasterCard announced it would provide
the tokenization services to Samsung Pay for its secure
transactions, enabling a quick scaling connection to bank partners
in the U.S.
“Samsung Pay is pleased to join forces with MasterCard to offer
a simple and safe mobile payment experience enabled for wider
merchant acceptance to MasterCard cardholders and issuers in
Europe,” said Injong Rhee, EVP of Samsung Electronics, Global Head
of Samsung Pay. “Both organizations are committed to ground
breaking fin-tech innovations that will deliver on the promise of a
true mobile wallet.”
“With the continued global growth and reliance on connected
mobile devices, we are delighted to expand our relationship with
Samsung by extending the reach of Samsung Pay and MDES to
cardholders in Europe. Europeans have been leading the way in the
adoption of new ways to shop, buy and make a payment. Through our
strong partnership with Samsung we look forward to continuing to
drive innovation in mobile commerce by creating simple and secure
digital payment experiences for consumers,” said Javier Perez,
President of MasterCard Europe.
Samsung Pay is scheduled to launch in the U.S. and South Korea
later this summer and Samsung is currently working with banks and
partners to bring the payment service to Europe.
Since the announcement of MDES in 2013, millions of MasterCard
accounts have been tokenized for use in popular digital wallet
services. MDES currently provides tokenization services for credit,
debit, co-brand, prepaid and small business cards. Private
label tokenization, announced in June, will begin in the third
quarter of this year. Tokenization services for app, eCommerce, and
recurring billing card-on-file programs will be available to U.S.
and Canadian merchants later this year and expand globally across
all MDES-enabled markets.
About MasterCard
MasterCard (NYSE:MA), www.mastercard.com, is a technology
company in the global payments industry. We operate the world’s
fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in
more than 210 countries and territories. MasterCard’s products and
solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on Twitter
@MasterCardNews, join the discussion on the Beyond the Transaction
Blog and subscribe for the latest news on the Engagement
Bureau.
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 307,000 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150730005159/en/
Media:MasterCardBrian Gendron, 914-325-1799Product
Communications, MasterCardbrian_gendron@mastercard.comorSeth Eisen,
914-249-3153Corporate Communications,
MasterCardseth_eisen@mastercard.comorSamsungAnna
Kim-Williams, +82-10-2105-7329Global PR Strategy, Samsung
Electronicsak.williams@samsung.comorWinston Eavis,
+44-7823-520-242External Communications, Samsung Electronics
Europew.eavis@samsung.com
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