• Central Bancompany
  • Central Bank Introduces Samsung Pay

    Central Bank is pleased to announce it now supports Samsung Pay, providing Samsung Galaxy smartphone owners with a simple, secure mobile payment option for their Central Bank Debit or Credit Cards. Central Bank joins over 500 banks and credit unions nationwide that support Samsung Pay, representing over 80 percent of the country’s credit card and debit market.

    “Samsung Pay provides an incredibly safe and smart digital wallet experience, allowing customers to make payments almost anywhere our card is accepted,” said Debra Lake, 2nd Vice President of Retail Card Products for Central Bancompany. “We are excited to support the secure, easy-to-use service and help our customers with the latest Samsung Galaxy devices slim down their wallets!”

    Samsung Pay uses three levels of security to enable secure payments: fingerprint or PIN-code authorization, Samsung Knox, Samsung’s defense-grade mobile security platform, and tokenization. Even as merchants upgrade their payment terminals to support EMV cards, Samsung Pay leverages this multi-tiered security. To protect a cardholder’s personal information, Samsung Pay works with Central Bank, Visa and Mastercard to assign a unique and random 16-digit number, or token, to a card when it is registered on a Samsung Galaxy device. At the time of purchase, this token, along with a cryptogram valid only for that particular payment, is transmitted to the card reader to complete the purchase – the merchant will not receive a cardholder’s personal information. As an added measure of security, a fingerprint or PIN-code authorization is required to complete any transactions from the Galaxy device. To make a payment on Samsung Pay, users can simply swipe up, scan their fingerprint or enter their personal PIN, and pay.

    Samsung Pay uses both Near Field Communication (NFC) and Magnetic Secure Transmission (MST) technology to deliver secure transmissions almost anywhere users can swipe or tap a card. Samsung Pay delivers secure transactions at new EMV chip and NFC terminals, and, through its innovative MST technology, at most traditional, magnetic strip terminals.

    Samsung Pay is available on the Samsung Galaxy S6 edge+, Galaxy S6 edge, Galaxy S6 edge+, Galaxy S6 Active, Galaxy S7, Galaxy S7 edge, Galaxy S7 Active, and Galaxy Note5 devices.

    Central Bank’s customer service department is available at 800.445.9272 to answer any questions about Samsung Pay.

    For more information on Samsung Pay, visit www.samsung.com/pay.