“…Samsung Pay’s MST technology will allow them to use their Chase Pay accounts to make purchases at virtually any point of sale using their phones, even those that would seem to only support swipe-based payments.”
Samsung and Chase Bank have teamed up to integrate the latter’s mobile payments platform into the former’s. That means consumers with compatible Samsung smartphones can start using Chase Pay accounts to make purchases with their biometrically secured phones.
The integration will bring a number of benefits to Chase Pay users. Consumers that choose to link their Chase Pay accounts to Samsung Pay will be able to accumulate rewards points for both platforms, and will be able to redeem their Chase Ultimate Rewards points at the point of sale using their Samsung phones.
Some Chase Pay users may also appreciate the biometric security of Samsung Pay, with Samsung’s last several flagship smartphones leveraging iris recognition to confirm transactions. And Samsung Pay’s MST technology will allow them to use their Chase Pay accounts to make purchases at virtually any point of sale using their phones, even those that would seem to only support swipe-based payments.
While Samsung and Chase’s partnership will ultimate reach a relatively small proportion of the consumer market, it can be seen as another sign of growth in the still-developing field of mobile payments, with former rivals now cooperating to further promote use of their platforms.
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