Samsung, a leader in the global smartphone market, has integrated Netspend’s digital Mastercard and mobile technology into Samsung Pay, Samsung’s digital wallet
AUSTIN, Texas--(BUSINESS WIRE)--Oct. 8, 2019--
Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions, announced today the technology behind its Netspend general purpose reloadable Mastercard has been integrated into Samsung’s digital wallet, Samsung Pay, and will drive its Samsung Pay Cash1 service.
Samsung smartphone users with Samsung Pay eligible devices2 will be able to access an auto-provisioned prepaid card called Samsung Pay Cash. This Netspend mobile-integrated digital Mastercard allows smartphone users to establish a digital prepaid card within their mobile wallet to hold funds for a variety of use cases, including spending and budgeting. The prepaid card also uses Mastercard token services that enable users to store and use the card without ever exposing card details to ensure safety for digital payments.
“By expanding our digital card and mobile wallet technology through this new partnership with Samsung, we are building on our core competency while investing in the future of digital and mobile payments to support customers where they work, live, play and shop,” said Netspend President Kelley C. Knutson. He added, “It’s fundamental that we create enhanced financial service experiences that expand beyond today’s industry capabilities to bring people more convenience, security and control when it comes to spending their money in their own way.”
“Our goal is to ensure that when consumers make a payment, they can do so simply, seamlessly and with complete peace of mind,” said Ed Glassman, Executive Vice President, Account Management, Mastercard. “Mastercard token services will scrub the 16-digit card number when it is added to the mobile wallet and used to make payments.”
“These days, more and more people are turning to their smartphones to manage their most important financial tasks. With Samsung Pay Cash, we’re making it even easier to keep your money within Samsung Pay like cash in your wallet,” said Sang W. Ahn, Vice President & Division Head, Content & Services, Samsung Electronics America. “We envision a future in which people can leave their cash and cards at home, take care of everyday financial matters easily and earn rewards all along the way.”
Netspend’s digital prepaid Mastercard for Samsung, branded as Samsung Pay Cash, is available and automatically provisioned in the wallet in Samsung Pay on all Samsung Pay-eligible mobile phones. The digital card account can be loaded with an in-app tokenized debit or credit card or with an ACH transfer from an external bank account. Users can manage their funds through a digital account and make payments with Samsung Pay virtually anywhere you can swipe a card.
About Netspend, a Global Payments Company
Netspend is the prepaid provider of choice to self-banked consumers and the brands that serve them. With a mission to empower consumers with the convenience, security and freedom to be self-banked, Netspend’s products have helped over 10 million consumers spend, budget and pay bills since 1999. Consumers can reload and find Netspend Prepaid Cards at convenient locations nationwide through Netspend’s extensive network of 130,000 reload points and more than 120,000 distributing locations and employers, including check cashers, convenience stores, grocers, pharmacies, insurance providers and tax preparers. Headquartered in Austin, Texas, Netspend is a wholly owned subsidiary of Global Payments (NYSE: GPN). For more information, please visit www.netspend.com.
About Global Payments
Global Payments Inc. (NYSE: GPN) is a leading pure play payments technology company delivering innovative software and services to our customers globally. Our technologies, services and employee expertise enable us to provide a broad range of solutions that allow our customers to operate their businesses more efficiently across a variety of channels in many markets around the world.
Headquartered in Georgia with over 24,000 employees worldwide, Global Payments is a member of the S&P 500 with worldwide reach spanning over 100 countries throughout North America, Europe, Asia Pacific and Latin America. For more information, visit www.globalpaymentsinc.com and follow Global Payments on Twitter (@globalpayments), LinkedIn and Facebook.
About Samsung Electronics America, Inc.
Headquartered in Ridgefield Park, N.J., Samsung Electronics America, Inc. (SEA), is a recognized innovative leader in consumer electronics, mobile devices and enterprise solutions. A wholly owned subsidiary of Samsung Electronics Co., Ltd., SEA is pushing beyond the limits of today’s technology and providing consumers and organizations with a portfolio of groundbreaking products in appliances, home entertainment, Internet of Things, mobile computing, smartphones, wireless infrastructure and wearables, in addition to offering leading content and services related to mobile payments, customer support and more. Samsung is a pioneering leader in smartphones and UHD TVs in the U.S. and one of America’s fastest growing home appliance brands. To discover more about Samsung, please visit www.samsung.com. For the latest Samsung news, please visit news.samsung.com/us and follow us @SamsungNewsUS.
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
Meta Financial Group, Inc. ® (Nasdaq: CASH) is the holding company for the financial services company MetaBank® ("Meta"). Founded in 1954, Meta has grown to operate in several different financial sectors: payments, tax services, national commercial lending, community banking, national consumer lending and insurance premium financing. Meta works with high-value niche industries, strategic-growth companies and technology adopters to grow their businesses and build more profitable customer relationships. Meta tailors solutions for bank and non-bank businesses, and provides a focused collaborative approach. The organization is helping to shape the evolving financial services landscape by directly investing in innovation and acquiring complementary businesses that strategically expand its suite of services. Meta has a national presence and over 1,200 employees, with corporate headquarters in Sioux Falls, S.D. For more information, visit the Meta Financial Group website or LinkedIn.
Samsung Pay Cash is a prepaid card account issued by MetaBank®, Member FDIC, pursuant to license by Mastercard International Incorporated.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
The card can be used where Samsung Pay and Debit Mastercard is accepted.
1 Samsung Pay Cash is a prepaid card account issued by MetaBank®, Member FDIC, pursuant to license by Mastercard International Incorporated.
2 For eligible cards only. Compatible with Samsung Pay enabled phones (S6 + later).
View source version on businesswire.com: https://www.businesswire.com/news/home/20191008005323/en/
Source: Global Payments Inc.
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