Samsung Electronics and PayPal partner to offer new payment solutions
Samsung Electronics has partnered with PayPal to allow Samsung Pay users to use the latter as a payment method for purchases made online, in-store or via an app.
To be initially introduced in the US, the service will be expanded to other countries in the future.
The partnership will also allow merchants using PayPal’s Braintree payment platform to accept Samsung Pay as an in-app or online method of payment.
Samsung Electronics mobile communications business R&D, software and services chief technical officer and head Injong Rhee said: “At Samsung, we pride ourselves on our open model of partnership and collaboration, which helps us deliver the best experiences to our customers.
“This partnership furthers our commitment to providing customers with a more convenient payment experience that is simple, secure and available almost anywhere.”
Samsung Pay customers will now be able to access and use their PayPal wallet to make payments in-store.
Users need to add their PayPal account to Samsung Pay to enable them to spend the balance anywhere Samsung Pay is an accepted payment method.
PayPal COO Bill Ready said: “At PayPal, we are focused on creating the best mobile commerce experiences for our customers, and partnering with technology leaders, like Samsung, to create experiences that our millions of joint customers love and can utilise no matter where they shop.
“By adding PayPal to Samsung Pay, we will combine Samsung’s ubiquitous payment solution with PayPal’s seamless and secure mobile wallet, delivering easy access to a simple, secure payment experience.”
According to Samsung, the partnership will prove to be mutually beneficial.
Samsung Pay is based on near-field communication and magnetic secure transmission technologies.