Published: Mon, July 17, 2017
Research | By Jo Caldwell

Samsung, PayPal ink strategic partnership

Samsung, PayPal ink strategic partnership

MobiKwik's mobile wallet will also be available soon to Samsung Pay users, it added.

PayPal and Samsung Pay have inked a partnership making PayPal more available at millions of retailers or wherever Samsung Pay is accepted -in-store, online, and in-app.

As part of the agreement, PayPal will gain access to Samsung Pay services, which will allow Samsung Pay customers to pay with PayPal inside of their wallets, whilst allow PayPal's merchants to accept Samsung Pay.

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. Samsung Knox offers a tight level of security, and though Android Pay brought PayPal support a few months ago, it's not as widely accepted as Samsung Pay - thanks to the MST hardware inside its phones, Samsung Pay can be used virtually anywhere a debit or credit card is accepted.

The government has also introduced a number of schemes to promote adoption of e-payment methods like mobile wallets, debit/credit cards and Unified Payment Interface (UPI). In April, PayPal announced a deal with Android Pay that's almost identical to the one it just made with Samsung. In 2014, we worked with Samsung to enable mobile payments with just a fingerprint.

"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 utilize no matter where they shop", said Bill Ready, PayPal's Chief Operating Officer. In addition, PayPal was added as a payment method within Samsung Smart TVs back in 2015.

According to March data from PYMNTS.com, Samsung Pay has the highest usage rate of the digital wallets with 4.5% of mobile users. Now consumers will be able to make payments easily on Samsung's budget and mid-range phones.

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