Synchrony will conserve the value element of private label credit cards in this secure mobile wallet setting. Synchrony has ensured that its complete portfolio of payment solutions and CareCredit cards, including 12 million average active accounts accepted at almost 300,000 locations, can be provisioned for the Samsung Pay.
The Samsung Pay app will be locked by fingerprint or PIN. It will capitalize on both magnetic secure transmission and near field communication technologies and will work with most existing payment terminals. For additional security, all Synchrony Bank private label credit card accounts in Samsung Pay will only work in the merchants store, as they will be device-specific and domain-restricted tokens.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now