Samsung Joins VDEP as Samsung Pay Launch Nears

In conjunction with Samsung’s Unpacked event today in New York City, we are excited to announce that Samsung is joining the Visa Digital Enablement Program. By joining this program, Samsung will be able to enable financial institutions to offer Samsung Pay easily and without fees – ultimately, helping to make Samsung Pay available for more consumers around the world.

As the payments industry increasingly shifts from plastic to digital, Visa has been hard at work making sure mobile payments are as secure – if not more so – as the credit and debit card experiences we have all become so accustomed to. Through new security technology called the Visa Token Service, your sensitive payment account information, such as the 16-digit account number, expiration date and security code, are replaced with a unique digital identifier. Use of the Visa Token Service by partners like Samsung help to ensure that sensitive card account information is never stored online or on mobile devices.

With Samsung Pay, the idea of walking to your corner store, dry cleaner or millions of other merchants and paying with your phone is becoming a reality. Virtually overnight, Samsung Pay will be able to be used almost anywhere your debit or credit card is traditionally used.