Page 47 - Pay Magazine s2014

volume 9 • fall 2016
We’re not only making it easier to pay, but
also deepening relationships— making it easier than ever for consumers to use gift, loyalty and rewards programs at their favorite stores.
—Dan Tuckman, Samsung Pay
hope will provide more strategic business options for Samsung down the road that will bene t as many consumers as possible.
Paybefore: Experts have re- cently opined that to succeed, mobile wallets will need to o er more than payment buttons. Does Samsung agree with that view? And how might that view guide further development of Samsung Pay?
DT: Samsung’s goal is to drive and lead innovation in mobile commerce, delivering consumers a safer, smarter and better mobile wallet. To Samsung, innovation doesn’t mean making something new for the sake of making
something new. It means building technology that keeps up with your pace, ts into your lifestyle, solves your problems and makes your life easier. Mobile payments help customers get through the checkout line faster. Not only that, mobile payments can auto- matically link credit cards and rewards card, so customers get all the bene ts of a loyalty pro- gram without any of the extra hassle. In short, mobile payments result in a faster, simpler and easier shopping experience.
Paybefore: Apple Pay, Chase Pay and now even Microsoft Wallet—the mobile wallet space keeps getting more crowded. Do you expect that trend to continue or do you expect some sort of leveling out?
DT: Existing mobile payment players primarily use NFC and
QR code scans for their services. Samsung Pay uses both NFC and MST to give users the ability to make everyday purchases at more merchants, making Samsung Pay the most widely accepted mobile payment solution. We are also continuing to expand features available on the service, such as giving users access to their loyalty and membership cards to receive savings, rewards and other o ers— all on their supported Samsung Galaxy smartphone—a new feature we launched in May 2016.
Paybefore: Do you think that some consumers’ ongoing struggle to get used to EMV chip card
payments in the U.S. will lead to reluctance toward even newer forms of payment, or an increased readiness to use mobile wallets or something else?
DT: Samsung’s goal is to drive and lead innovation in mobile commerce, delivering consumers
a safer, smarter and better mobile wallet. Using Samsung Pay is faster than using a chip card. Samsung continues to expand its partner- ship ecosystem for Samsung Pay as well as adding new markets
and features. Samsung Pay will be accepted at an increasing number of merchant locations, which will drive increased adoption.
Paybefore: How can mobile wallet providers assuage consumer concerns about payment security and data breaches?
DT: Samsung Pay uses token- ization, Samsung KNOX [Samsung’s mobile security platform] and ngerprint authentication to provide secure payments. Using Samsung Pay is safer than swip- ing a mag stripe card because
the payment information trans- mitted by both NFC and MST
is protected using tokenization,
a method that protects against copy and reuse at even mag- stripe-only terminals. Samsung
Pay users are fully protected against fraud by card issuers,
and merchants receive card- present rates with no EMV liability shift. We believe this is a compel- ling value proposition for our users and merchant partners.
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