Finally, the US Bank’s MasterCard holders can go forward for the wallet-less transactions using their NFC enabled smartphones. Now the Android Pay and Samsung Pay support the US Bank Master Card. Only Visa Cards were supported ’til now. Co-branded Cards of US Bank like REI and Edward Jones are also supported by the both smart payment systems.
The Both Android Pay and Samsung Pay services are enabled only for NFC compatible smartphones. In the case of Samsung Pay, it must be either traditional Magnetic Secure Transmissions (MST) reader or NFC. Paying via these types of Smartphone based payments won’t reveal your account details at any manner. It sends a temporary Virtual account details as cash token to the merchant’s account.
Currently, the Smartphone based pay services are not enabled all over the world. But it could spread rest of the world within a few years, and the future is coming near to us. The wallet-less generation being emerged by these payment systems. As they have better security, there would be some attempts in future from hackers to hijack the smart wallets, and we could expect that the companies will take appropriate actions for providing extra security to users.