Samsung Electronics today announced an expanded strategic partnership with PayPal Holdings, Inc., 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 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.
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.
“At Samsung, we pride ourselves on our open model of partnership and collaboration, which helps us deliver the best experiences to our customers,” said Injong Rhee, CTO and Head of R&D, Software and Services of the Mobile Communications Business, Samsung Electronics. “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.”
“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. “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.”
Simple, Secure and Almost Anywhere
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:
- Simple: To make a payment with Samsung Pay, simply swipe up from the home button, scan a fingerprint or verify with iris scanning1 (which can be different from the authentication registered to unlock the device), and tap the back of the phone on a POS machine.
- Secure: 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.
- Accepted Almost Anywhere: 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.
1Iris scanning is currently only supported on the Galaxy S8 and S8+ and biometric authentications may vary by market conditions.
About Samsung Pay
Samsung Pay, a mobile payment service from Samsung Electronics, is simple, safe and available almost anywhere you can swipe or tap your card. Combining NFC (Near Field Communication) with Samsung’s proprietary MST (Magnetic Secure Transmission) technologies, Samsung Pay provides consumers a way to pay almost anywhere you can swipe or tap a card at merchant locations. Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience. Samsung Pay is now available in 18 markets, including South Korea, the United States, China, Spain, Singapore, Australia, Puerto Rico, Brazil, Russia, Thailand, Malaysia, India, Sweden, the UAE, Switzerland, Taiwan, Hong Kong and the U.K
Source: Samsung Mobile Blog