Press Releases

Renaissance Credit launches Samsung Pay and Google Pay for Mastercard cards


17.12.2019

Renaissance Credit has launched Samsung Pay and Google Pay. Now clients of the bank - holders of Mastercard cards can pay for their purchases using smartphones.

Comment by Natalya Ishchenko, Senior Vice President, Director of Department for Banking Products at Renaissance Credit: “This technology makes purchases even more convenient – one just has to bring the smartphone to the terminal at the cash desk. It also considerably simplifies the payment process via terminals which support contactless payments and in mobile applications which support the relevant services.”

Google Pay can be connected both in the mobile bank of Renaissance Credit and via the application of the service itself. Samsung Pay can be connected only via the relevant application.

Using its proprietary technology Samsung MST (Magnetic Secure Transmission), Samsung Pay allows to make payments via any types of terminals – including those which do not support the standard NFC technology for contactless payments. Samsung Pay has a reliable three-layer safety system which ensures security of payments. Each transaction has to be confirmed by the fingerprint, iris scan or PIN code, while the real card number is substituted by a special digital code – token. A special security platform Samsung KNOX is used to protect data on the hardware and software levels independently from the operating system.