A week after announcing it would be accepted as a payment method by Apple, PayPal announced it would soon be an accepted payment method in the Samsung Pay mobile wallet. PayPal’s Bill Ready explained the strategic partnership would enable customers to use PayPal via Samsung Pay in-store, online, and in-app.
Ready’s July 17th blog post announcement follows:
PayPal is focused on delivering seamless mobile commerce experiences and extending this reach through strategic partnerships. Today, we took another step to bring PayPal to more customers by expanding our partnership with Samsung to enable PayPal as a payment method in Samsung Pay wherever Samsung Pay is accepted – in-store, online, and in-app.
Coming soon, consumers in the U.S. will be able to use PayPal within Samsung Pay at millions of retailers. This partnership will allow our mutual customers to pay across even more mobile contexts, as consumers increasingly turn to their phones to manage and move their money. At PayPal, we’ve seen – and helped enable – a major shift to mobile. Last year alone, PayPal processed $102 billion in mobile payment volume and two billion mobile payment transactions. This partnership will give our customers the ability to pay with mobile almost anywhere consumers can swipe or tap a credit card, as Samsung Pay works in almost any in-store POS location in the U.S.
PayPal is the largest global payment platform that operates at scale on both the consumer and merchant side of the network. Because of this, in addition to enabling consumers to pay with PayPal inside of their Samsung Pay wallets, we’re also able to allow merchants to accept Samsung Pay. Through Braintree Direct, merchants will be able to accept Samsung Pay as a method of payment in-app and online. By making it completely seamless to accept digital wallets like Samsung Pay, we’re continuing to break down the barriers to checkout for our merchants.
PayPal and Samsung have had a strong partnership for several years now. 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. This next phase of our relationship combines our reach and leadership in technology and mobile commerce, bringing more choices and functionality to our mutual customers.
The PayPal integration with Samsung Pay is supported on Samsung smartphones including the Samsung Galaxy S8 and S8+.
We will continue forging new collaborations with leaders across the tech and financial worlds to expand the reach of our products, explore new contexts, increase conversions for our merchants, create better mobile experiences and give our consumers the flexibility, security and speed that digital payments can offer.
SOURCE: PayPal Blog Post Announcement