Samsung and PayPal strike deal for new in-store and online payment methods

You now have even more ways to pay.

Samsung is continuing to build partnerships to drive even more payments through Samsung Pay, adding PayPal support. Now you can make tap-to-pay purchases all over the U.S. and fund them with your PayPal balance, rather than adding your credit and debit cards individually to both services. You’ll still continue to earn rewards through Samsung Pay as well.

Even though PayPal actually has its own in-store purchasing system, it’s nowhere near as pervasive or simple as just using the existing payment terminals found in pretty much every store today. For those who typically use PayPal for online purchases, they can now seamlessly take that system to stores now as well.

This is a win-win for both companies.

This deal goes beyond in-store payments, though, and seriously benefits Samsung. The partnership also means that merchants will be able to accept Samsung Pay for in-app and online payments through PayPal’s Braintree payments service. So as long as a company is using Braintree, it will be a seamless move to accept Samsung Pay payments from people with modern Samsung phones using their app or website.

Much in the same way that Samsung is ahead of PayPal when it comes to in-store payments, PayPal’s Braintree is far ahead of Samsung Pay’s online payment system. It’s a win-win, really.

Press release:

Samsung Pay Announces Partnership to Allow Users to Pay via PayPal

Samsung Pay users will be able to use PayPal as a payment method In-App, Online and In-Store

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.

Strategic Partnerships

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.

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By mikeadams68

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