CHESTER, England--(BUSINESS WIRE)--MBNA, the credit card experts, have announced they will support Samsung Pay, helping to transform mobile payments with a simple, secure and fast way to pay.

MBNA invests in innovation to make life easier for its customers. It was a pioneer of contactless payment technology – since 2013, 100 percent of its cards have been contactless payment-enabled. As a result, its customers are already some of the most active users of contactless payments. MBNA has invested heavily in “mobile wallets” and will be among the first wave of card firms offering Samsung Pay to its customers in the UK.

With the rise in the contactless payment limit from £20 to £30 in September 2015, contactless cards in circulation reached 78 million by the end of 2015, with one in 10 card transactions being contactless. Contactless spend hit a record £1 billion in a single month in November 2015.

Ian O’Doherty, CEO of MBNA, said: “Our customers are looking to MBNA as the credit card experts to deliver handy new ways to pay – ways that offer them convenience, speed and safety. We’re investing in delivering our customers Samsung Pay at the earliest opportunity, showing how we’re helping make life easier for them.”

How does Samsung Pay work?

Transactions are authorised with your fingerprint or PIN code, so you’re in control of when each payment is made.

With Samsung KNOX, your phone is constantly monitored for vulnerabilities. Even if your smartphone is compromised, your information is still safely encrypted within a separate, secure data vault.

Visit the Samsung Pay website to learn more: www.samsungmobilepress.com and www.samsung.com/pay.

ENDS

Notes for Editors

MBNA – driving the move to mobile

MBNA was an early pioneer of contactless payment technology.

One hundred percent of its cards have been contactless payment-enabled since 2013.

MBNA has been among the first to invest in “mobile wallets” for its customers.

MBNA broke new ground with an eligibility checker that doesn’t impact applicants’ credit scores.

MBNA was early to introduce a PIN-display feature in its online card service.

uSwitch customers have voted MBNA the best credit card app on the market.

What you see is what you get

MBNA provides only unsecured* consumer credit – no more, no less. It won’t try to sell you other products.

MBNA is entirely based in the UK and primarily serves UK-based customers.

MBNA has no branches. The majority of its customers apply for and service their accounts online.

MBNA and its employees play a key role in the community, providing grants, volunteering, financial advice.

* Examples of secured credit would be a mortgage or a car loan.

About MBNA

MBNA Limited (https://www.mbna.co.uk/) is a wholly owned subsidiary of Bank of America Corporation (NYSE: BAC). It is one of the UK’s leading credit card providers and was voted Credit Card Provider of the Year for the third year running in the Consumer Moneyfacts Awards 2016. MBNA is committed to implementing innovations to make life easier for our customers. Headquartered in Chester for over 20 years, the company has a long history of investing in its local community.

About Samsung Pay

Samsung Pay, a mobile payment service from Samsung Electronics, is simple, safe and available almost anywhere you can swipe or tap your card. Combining NFC with Samsung’s proprietary MST technologies, Samsung Pay provides consumers a way to pay almost anywhere you can swipe or tap a card at millions of merchant locations. Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience.

About Samsung Electronics Co., Ltd.

Samsung Electronics Co., Ltd. inspires the world and shapes the future with transformative ideas and technologies that redefine the worlds of TVs, smartphones, wearable devices, tablets, cameras, digital appliances, printers, medical equipment, network systems, and semiconductor and LED solutions. We are also leading in the Internet of Things space with the open platform SmartThings, our broad range of smart devices, and through proactive cross-industry collaboration. We employ 319,000 people across 84 countries with annual sales of US $196 billion. To discover more, and for the latest news, feature articles and press material, please visit the Samsung Newsroom at news.samsung.com.

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