The company says that it's seeing repeat usage with an average of eight transactions per user in the United States, adding that three out of the four transactions were made possible by MST. Magnetic Secure Transmission is crucial to the success of Samsung Pay, it enables merchants to accept Samsung Pay using existing card terminals, thus Samsung Pay can essentially be used anywhere a customer can pay by card. That's something that rival services like Apple Pay don't have.
In the coming months cards issued by Chase, PNC Bank, TD Bank, SunTrust, Fifth Third Bank, First Hawaiian, Key Bank, Silicon Valley Bank, Security Service Federal Credit Union, Navy Federal Credit Union, Virginia Credit Union, Associated Bank, Randolph Brooks Federal Credit Union and People's United Bank will work on Samsung Pay. The company has also confirmed today that its mobile payment service will work with Discover starting next year. Support for gift cards arrives before the end of this year, enabling users to pay at retailers across grocery, dining, fashion and entertainment industries using gift cards stored in the Samsung Pay app.
