Samsung Pay Expands in the US as Apple Pay Signs China Deals

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Samsung Pay

Samsung Electronics announced Monday that Samsung Pay, “the most accepted mobile payment system,” is expanding its US footprint just as it’s being promoted globally with a new tongue-in-cheek spot below, “Be the Master of Payments.”

“Samsung creates innovative new technologies to make life easier and better for everyone, and Samsung Pay is the latest example,” said Kate Oh to Adweek. “Playing with the codes of old martial arts movies, we created two characters – a master and his apprentice – to demonstrate just how quick and simple paying for goods can be when you use your mobile.”

More competitors are on the horizon, with LG reportedly planning to launch G Pay by the end of the year. Apple Pay, currently available in the US, UK, Canada and Australia, may launch in China in the new year. According to CNBC, Apple has inked deals with China’s big 4 banks to allow users to link accounts to Apple Pay ahead of a planned February launch.

As it expands in the US, Samsung Pay now supports eligible Chase Visa credit, debit and Liquid cards, as well as debit and credit offerings from MasterCard issuers: Citizens Equity First Credit Union, Randolph-Brooks Federal Credit Union, Security Service Federal Credit Union, State Employees’ Credit Union, SunTrust and Virginia Credit Union.

Samsung Pay also now supports Navy Federal Credit Union Visa credit and debit cards. Cardholders of all these issuers will be able to use Samsung Pay to pay almost anywhere they can swipe or tap their card.

“With expanded support from eight additional issuers, including Chase and SunTrust, we look forward to building even more momentum around Samsung Pay,” stated Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay. “Through our ever-expanding ecosystem of financial partners, Samsung Pay users will be able to take advantage of the most widely accepted mobile payment solution.”

“Samsung Pay gives our customers another convenient way to pay with their Chase cards,” said Gavin Michael, Head of Digital for Chase. “They choose how they want to pay.”

All three major payment networks will continue to be supported by Samsung Pay: American Express, MasterCard and Visa, as well as major banks including Bank of America, Chase, Citi, Navy Federal Credit Union, SunTrust, U.S. Bank, and key partners including Blackhawk Network, First Data, Global Payments, Synchrony Financial, TSYS, Vantiv, and Worldpay.

To sweeten the deal in America, Samsung is offering US customers a $50 Best Buy gift card if they sign up and activate Samsung Pay between 11/20 ad 12/31 and have a Samsung Galaxy S6, S6 Edge, S6 Edge+ or Note 5.

In September, Samsung announced that its mobile payments service has one million users in South Korea> now the Best Buy promotion is aimed at drumming up interest in the US. Apple Pay, in comparison, had over one million sign-ups in the first three days.

“We knew Samsung Pay would be a gamechanger in the mobile payments industry, and now with the user data, we are seeing the greater impact it is having on consumer behavior and on the lifestyle of our customers,” Rhee stated.

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