PayPal partners with Samsung
The world’s biggest smartphone developer, Samsung, has announced a partnership with the leading online payments provider, PayPal, adding the payments service as an option within the Samsung Pay ecosystem.
Samsung joins its rival Apple as the second major handset developer to offer PayPal's service through its payments platform.
While access to PayPal will initially be limited to Samsung Pay users in the United States, the company expects to expand the service to other countries soon.
In 2016, PayPal processed $102 billion in mobile payment volume and two billion mobile payment transactions, according to Bill Ready, executive vice-president and chief operation officer at PayPal.
“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.”
Samsung Pay is currently the most widely-accepted mobile payment platform on the market, according to the company.
PayPal users will now also be able to use their PayPal wallet for offline payment transactions where Samsung Pay is accepted. Merchants with access to PayPal’s Braintree Direct service will also be able to accept Samsung Pay as a payment method.
This is hardly the first collaboration between the companies. Since 2014, Samsung and PayPal have collaborated on a number of projects, including the development of a fingerprint-enabled payments option and access to PayPal’s service through Samsung’s range of Smart TV’s.
“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,” Ready said.
PayPal has been secured a number of high-profile partnerships over the last year, including deals with Google and Apple, as well as global credit processors Visa and Mastercard.