From Illinois Business Journal news services
BIRMINGHAM, Ala. – Regions Bank customers can soon add their Regions Debit, Credit and Prepaid Now cards to Android Pay, the company calling it a simple and secure way to pay with an Android phone.
Android Pay enables Android users to tap and pay with their phones at more than 1 million stores across the U.S.
Regions customers can use the new payment product to load an existing Regions card to Android Pay and use those cards to make purchases in stores that accept contactless payments.
Android Pay is supported by industry standard tokenization, which does not transmit actual credit or debit card numbers with a payment. Instead, a virtual account number is used to represent the customer’s account information — providing an enhanced layer of security.
Additional security features also include payment confirmations and the Android Device Manager, which allows users to lock a device remotely, secure it with a new password or wipe it clean of personal information if the phone is ever stolen or lost
“Regions was one of the first banks in the nation to be announced as a participant in this service. This is another step forward in enabling our customers to manage their finances when and where they choose,” said Scott Peters, head of Regions Consumer Services.
Android Pay will be available for download on Google Play and will come pre-installed on new NFC-enabled Android phones from major carriers.
More information on Android Pay is available at www.android.com/pay