“Android Pay relies primarily on encryption security for its transactions, while Samsung Pay, like Apple Pay, makes use of fingerprint-based biometric authentication.”
US Bank has enabled Android Pay and Samsung Pay support for its MasterCard cardholders.
In a statement announcing the support, the bank framed it as an adaptation to advances in payments that would bring more options to its customers. “This is an important step in the continuing evolution of payments and consistent with providing our cardmembers the convenience of making mobile payments with whatever mobile device they choose,” said SVP Clifford Cook.
The emphasis on convenience echoes US Bank’s earlier statement regarding its support for Apple Pay, which was fully enabled in January of this year, though the bank seems to have put less emphasis on security this time around, with only glancing references to the “secure” payments enabled through each service. Android Pay relies primarily on encryption security for its transactions, while Samsung Pay, like Apple Pay, makes use of fingerprint-based biometric authentication.
Android Pay is similar to Apple Pay in its reliance on NFC technology for transactions at the point of sale, however, while Samsung Pay’s MST technology enables its use with both NFC readers and older magnetic stripe readers – a point upon which US Bank’s statement concluded.