Samsung Electronics (KRX:005930) has announced an expanded strategic partnership with PayPal Holdings (NASDAQ:PYPL), adding PayPal as a method within Samsung Pay whereverS Samsung Pay is accepted.
As quoted in the press release:
Access to PayPal will be available for all Samsung Pay users in the United States and will expand to other countries soon. Additionally, through Braintree, a PayPal service, merchants will be able to accept Samsung Pay as a method of payment in-app and online.
Bringing More Benefits to Samsung Pay Users
Customers will be able to use their Samsung Pay to access and use their PayPal wallet, letting them make a payment in millions of stores. Users simply add their PayPal account to Samsung Pay, and can then spend the balance anywhere Samsung Pay is accepted. Additionally, users will continue to benefit from Samsung Pay’s unique value-added services, including gift cards, membership and loyalty cards.
Thanks to Samsung’s NFC and proprietary MST technology, Samsung Pay is the most widely-accepted mobile payment platform on the market and works almost anywhere you can swipe or tap a card today. Now, with the integration of PayPal wallet, customers can continue to use Samsung Pay in the most convenient way possible.
Benefits to Merchant Partners
Additionally, Samsung Pay will be available via Braintree Direct, allowing merchants to accept Samsung Pay as a payment method. With just a few lines of code, merchants will be able to easily integrate Samsung Pay, offering their customers greater flexibility in how they pay and reducing friction through faster and more secure checkout experiences.