MIDVALE, Utah, June 22, 2016 -- Ally Bank, the direct banking subsidiary of Ally Financial Inc. (NYSE: ALLY), today announced it has enabled Android Pay™ and Samsung Pay® support for its debit card customers, providing fast and secure ways to make purchases with compatible Android™ and Samsung devices. These services are in addition to Apple Pay®, which was made available to Ally Bank customers in March.
Android Pay will be compatible with devices using Android 4.4 (KitKat) or higher. Samsung Pay is available on select Samsung mobile devices (Galaxy S6, S6 edge, S6edge+, S6 active, S7, S7 edge, S7 active, and Note5). Once customers enter their card information on their devices, they will be ready to make purchases across retail locations.
"Expanding our supported mobile payment options to include Android Pay and Samsung Pay is just another way to better serve our customers," said Diane Morais, chief executive officer and president of Ally Bank." The addition of these two mobile payment services expands the option of mobile payment to a much larger base of Ally Bank customers, making banking easier and more convenient for them."
To pay using Android Pay users unlock their phone using a passcode or fingerprint and hold the back of the device against the merchant’s card reader. It is not necessary to open the app to make a purchase.
To pay with Samsung Pay, users open the app, select the Ally Bank debit card, authorize the payment using their fingerprint or four-digit code and hold the back of their device over the in-store card reader. The most widely accepted mobile payment system, Samsung Pay combines Near Field Communication (NFC) technology and proprietary technology called Magnetic Secure Transmission (MST). MST technology enables Samsung Pay to be used with the majority of existing card readers, allowing it to work almost anywhere you can swipe or tap a card.
In addition to being easy to use, Android Pay and Samsung Pay provide a secure form of payment. Instead of using your actual debit card number, both Android Pay and Samsung Pay assign a virtual account number to your device. Your card details are never stored on your phone or shared with merchants when you make a purchase.
Earlier this year, Ally introduced an Android Wear app that allows Android watch users, whether they are Ally Bank customers or not, to get information on the five closest ATM and/or cashback locations.
About Ally Bank
Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposit required to open an account, no monthly maintenance fees and 24/7 live customer service. A subsidiary of Ally Financial Inc., the Bank offers online savings, interest checking, money market accounts, certificates of deposit with terms ranging from three months to five years, a credit card, and IRA Plans and products. Member FDIC.