In addition to Apple Pay, Bank Midwest customers can now add debit cards to Samsung Pay and Android Pay apps on mobile devices as a convenient digital payment method.
These mobile payment systems (or mobile wallets) allow cardholders to pay in stores without swiping debit or credit cards and within apps without entering payment and contact information. Just pay with a tap of the phone using compatible payment terminals in select merchants.
Mobile Payments Offer Increased Security
Mobile payments offer an increased level of security. Instead of using actual credit and debit card numbers when a card is added to the mobile wallet, a unique Device Account Number is assigned, encrypted and securely stored.
When making a purchase, the Device Account Number alongside a transaction-specific dynamic security code is used to process the payment. So the actual credit or debit card number is never shared with merchants or transmitted with payment.
Samsung Pay differs from Apple Pay and Android Pay in that it’s also compatible with many magnetic card reader terminals that do not require inserting the card (like ATMs or gas stations). When using a debit card through Samsung Pay, the debit card PIN may still be required.
Paying with cards stored in your digital wallet is also more private. The cashier never sees your name, card numbers or security code.
Read our blog post, Your Most Important Mobile Wallet Questions, Answered, for more information about mobile wallets.