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Samsung sent shockwaves through the mobile wallet market on Wednesday, announcing that its payment technology, Samsung Pay, is now compatible with membership and loyalty cards. This is in addition to the platform’s current functionality, a mobile technology in line with competitors Apple Pay and Android Pay.
The latest advancement for Samsung Pay is one that builds on the program’s goal of seamless user experience. With the new addition, Samsung Pay customers will be able to add loyalty cards for things including gym memberships, grocery stores, and even identification cards.
As the mobile wallet platform continues to grow, consumers are increasingly looking for ways to move their physical cards into the digital space.
The convenience offered by mobile wallets, analysts hope, will usher in a new era of customer experience, one in which plastic cards are a preference rather than a necessity. This prediction is one step closer with the addition of loyalty cards to the platform.
Samsung Pay differentiates itself from industry competitors, in part, thanks to its ubiquity—the platform is the most widely accepted mobile wallet platform on the market, a crucial feature in a technology sector that has yet to achieve a level of full acceptance from shoppers. The platform is available from leading financial institutions including American Express, Citi Bank, Bank of America, Chase, and Well Fargo.
“With this new feature, Samsung Pay is giving users quick access to their favorite membership and loyalty programs and making shopping even easier,” said Nana Murugesan, VP of Strategy and Operations for Samsung Electronics America. “Right now, shoppers have several things—credit and debit cards, membership cards, coupons, gift cards—they need to take out of their wallets and scan at the register. Samsung is simplifying the checkout experience by bringing those items to your phone, representing our next step toward a world without physical wallets.”
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