Global Payments reports 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.
Netspend is the prepaid provider of choice to self-banked consumers and the brands that serve them. 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.
Samsung Pay Cash is a prepaid card account issued by MetaBank®, Member FDIC, pursuant to license by 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).