Samsung Pay Welcomes PFS Cardholders & FinTechs

Samsung has announced a partnership with PFS to launch Samsung Pay for its branded cards. Cardholders on specific programmes issued and managed by PFS in the UK can now enable Samsung Pay and use Contactless wherever the contactless symbol is displayed and Mastercard accepted. Near Field Communication (NFC) and enhanced security features including fingerprint authentication, PIN/iris scan make the user experience safe and seamless.

Since the launch of Samsung Pay in 2017, Samsung has focused on building the functionalities of this “digital wallet” to provide the best possible user experience. Key capabilities include:

Simplicity: With Samsung Pay every transaction is easy and convenient. Samsung Pay uses NFC making the user experience seamless. Users can launch Samsung Pay with a simple swipe from the bottom edge of their screen to bring up the last used credit, debit or prepaid card, use their iris, pin or fingerprint to prove their identity, and tap their device on a payment terminal to make a payment. Samsung Pay allows customers to use contactless payment for transactions over £30 (subject to merchant policies).

Security: Samsung is committed to ensuring its customers have complete peace of mind when it comes to mobile payments and digital wallets. Each transaction is authenticated by fingerprint, pin number or iris scan, and uses an encrypted digital token to replace sensitive card information to help prevent fraud. Additionally, Samsung’s industry-leading Knox security platform is built into the hardware and software of your device, which ensures mobile information and data is secure.

Access (Almost Anywhere): Samsung Pay is accepted almost anywhere you can use your contactless credit, debit or prepaid card in the UK and where the Mastercard logo is displayed.

For further info, including full list of compatible devices, visit: https://www.samsung.com/uk/samsung-pay/

James Bradbury, Head of Services at Samsung Electronics said: “We are delighted to announce the new partnership with PFS and to be able to offer Samsung Pay to PFS customers, helping more people to make on-the-go transactions easy and incredibly secure.”

Lee Britton, Commercial Director at PFS stated: "The future of payments is increasingly digital and PFS and Samsung are at the forefront of this fast-paced evolution. We are excited to reveal the expansion of an attractive mobile offering for clients. This partnership provides an increased number of payment choices through smartphones, smartwatches and the trend-setting wearables market as we revolutionise traditional payment methods together.”

Katherine Rodger, Senior Project Manager Mobile Payments at PFS added:"We are able to leverage Mastercard’s advanced tokenization platform to add even more security to payments. Samsung Pay uses tokens instead of a cardholder’s account number, meaning personal information is never revealed during this ultra-convenient payment process. Additionally, a unique dynamic cryptogram is generated for each transaction ensuring the same credentials can never be used more than once."

About PFS

Prepaid Financial Services Limited (PFS) provides world-class payment technology solutions offering comprehensive innovation in electronic money. As a pioneer in the evolution of the FinTech ecosystem, its award-winning solutions include e-wallets, physical and virtual prepaid cards and IBAN accounts in the UK and Eurozone. PFS is Authorised and Regulated by the FCA in the UK as an electronic money institution and has passported its e-money license to enable e-money issuance in the EEA.

PFS is one of Europe's largest e-money issuers and has returned profits for 10 consecutive years. With programmes active in 25 countries and growing, the company has the ability to transact in 23 currencies. PFS’ products and state-of-the-art technology platforms are trusted by governments, local authorities, NGOs, mobile network operators, banks and corporate clients globally. PFS is an agile FinTech chosen by other FinTechs to revolutionise the digital economy securely and in real-time.

Explore the future of prepaid financial solutions today as the world moves towards a cashless society tomorrow by visiting https://prepaidfinancialservices.com and discover more about PFS' next-generation payment solutions. Contact Sales@PrepaidFinancialServices.com

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