Samsung Pay Partnership to Paypal Allow Users to Pay via PayPal
Samsung on Monday announced an expanded strategic partnership with PayPal, adding PayPal as a payment method within Samsung Pay wherever Samsung Pay is accepted in app, online and in-store. Access to PayPal will be available for all Samsung Pay users in the United States only as of now 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.
Customers will be able to use their Samsung Pay to access and use their PayPal wallet, allows them make to a payment in millions of stores. Users simply needs to add their PayPal account to Samsung Pay and can then spend the money 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.
Samsung Pay is the most widely-accepted mobile payment platform on the market and works almost anywhere you can swipe or tap a card. Now, with the integration of PayPal wallet, customers can continue to use Samsung Pay in the most convenient way possible.
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 codes, 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.
This strategic partnership between Samsung and PayPal will mutually benefit both organizations’ customers. PayPal users will now be able to use their PayPal wallet for offline payment transactions at millions of merchants where Samsung Pay is currently accepted, while Samsung Pay customers can leverage PayPal’s Braintree assets for easier online checkout.
Injong Rhee, CTO and Head of R&D, Software and Services of the Mobile Communications Business, Samsung said “At Samsung, we pride ourselves on our open model of partnership and collaboration, which helps us deliver the best experiences to our customers. We are excited to be partnering with PayPal, one of the largest payment platforms in the world, to offer our global consumers a richer mobile wallet experience. This partnership furthers our commitment to providing customers with a more convenient payment experience that is simple, secure and available almost anywhere.”
Bill Ready, PayPal’s Chief Operating Officer 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 utilize 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.”
In addition to helping reduce form fill friction, merchants and users will continue to benefit from the simple, secure and easy to use features of Samsung Pay.
To make a payment with Samsung Pay, simply swipe up from the home button, scan a fingerprint or verify with iris scanning(which can be different from the authentication registered to unlock the device and tap the back of the phone on a POS machine.
Samsung Pay is built with three levels of security— biometric authentication, card tokenization and Samsung’s comprehensive mobile security platform, Samsung Knox, providing multi-layered protection from the device down to its kernel. In case users lose their phones, the FMM (Find My Mobile) feature enables users to lock Samsung Pay remotely with a preset password.
Samsung Pay works with Near Field Communication (NFC) as well as with Samsung’s patented Magnetic Secure Transmission (MST) technology. MST replicates a card swipe by wirelessly transmitting magnetic waves from the supported Samsung device to a standard card reader, allowing Samsung Pay to work almost anywhere cards are accepted.