MBNA, the credit card experts, have announced they will support Samsung Pay, helping to transform mobile payments with a simple, secure and fast way to pay.
MBNA invests in innovation to make life easier for its customers. It was a pioneer of contactless payment technology – since 2013, 100 percent of its cards have been contactless payment-enabled. As a result, its customers are already some of the most active users of contactless payments. MBNA has invested heavily in “mobile wallets” and will be among the first wave of card firms offering Samsung Pay to its customers in the UK.
With the rise in the contactless payment limit from £20 to £30 in September 2015, contactless cards in circulation reached 78 million by the end of 2015, with one in 10 card transactions being contactless. Contactless spend hit a record £1 billion in a single month in November 2015.
Ian O’Doherty, CEO of MBNA, said: “Our customers are looking to MBNA as the credit card experts to deliver handy new ways to pay – ways that offer them convenience, speed and safety. We’re investing in delivering our customers Samsung Pay at the earliest opportunity, showing how we’re helping make life easier for them.”
How does Samsung Pay work?
- Transactions are authorised with your fingerprint or PIN code, so you’re in control of when each payment is made.
- With Samsung KNOX, your phone is constantly monitored for vulnerabilities. Even if your smartphone is compromised, your information is still safely encrypted within a separate, secure data vault.