Samsung has been aggressive about its strategy considering the Samsung pay and the compatible devices. Apple gained a huge lead when it launched apple pay before everyone else and with the volumes that apple sold the iPhone 6 and 6 plus, apple pay was sure to be a hit among the users.
Samsung relatively sold fewer high end phones when compared to apple and the compatible models were limited. But a year later, Samsung pay has emerged as the winner of the mobile payment service war. It is not only compatible with the NFC terminal but can also work with the normal credit card terminal thanks to the technology called as magnetic secure transmission(MST).
Samsung is now adding 19 additional bank that will be compatible with Samsung pay. The list is as follows
New Visa issuers supported include TCF Bank, Central Florida Educators Federal Credit Union, Financial Center Federal Credit Union, Greater Kinston Federal Credit Union, Keypoint Credit Union, Numerica Credit Union, Utah Community Credit Union, Amegy Bank National Association, California Bank and Trust and Pentagon Federal Credit Union. Additional new MasterCard issuers supported include Achieva Credit Union, Associated Bank, Bayport Credit Union, Bethpage Federal Credit Union, Cambridge Savings Bank, USC Credit Union and Navy Federal Credit Union.
Additional, Samsung also has a promotional scheme. When you register for the Samsung pay service and set up your credit card, you will receive a $200 credit to spend on Samsung products in the Samsung’s website. Best buy is also offering an additional $50 card.
Samsung is also making mid ranged and low end phones such as The Galaxy A9, A7 and A5 compatible with the Samsung pay so that more number of consumers can utilize this popular services.
I must say that one hell of a strategy.