Samsung Pay Receives Support For PayPal

Samsung Pay Pay Pal deal will make Note 8 the perfect digital wallet

Samsung Pay Pay Pal deal will make Note 8 the perfect digital wallet

Samsung Electronics Co. said Monday it has clinched a strategic partnership with USA online payment service provider PayPal for an expansion of its mobile payment services.

Merchants using PayPal subsidiary Braintree can add Samsung Pay to the checkout options. All you need to do is sign in with PayPal in the app, and you can make payments directly from your PayPal wallet. Because Samsung Pay supports Magnetic Secure Transmission (MST) technology, it can replicate a card swipe - allowing Samsung Pay to work almost anywhere that payment cards are accepted. Since Samsung's mobile payments service has MST and NFC support, it can work with nearly all card terminals in supported markets.

According to a Boston Retail Partners survey on mobile payments released earlier this year, Apple Pay now has the largest percentage of supporting USA merchants, with 36 percent accepting the technology, up from 16 percent the year before. More than 200 million people use PayPal.

Initially, access to PayPal payments will be limited to Samsung Pay users in the US, but it will be extended to other markets shortly.

PayPal is the largest global payment platform that operates at scale on both the consumer and merchant side of the network.

"The partnership will help provide customers with various mobile payment services", said Rhee In-jong, the chief technology officer of Samsung's Mobile Communication Business. In 2014, we worked with Samsung to enable mobile payments with just a fingerprint. The following year, PayPal was added as a payment method within Samsung Smart TVs.

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