Starting today in the United States and coming to other markets soon, PayPal users will be able to add their account and use funds just like any other bank to make purchases wherever Samsung Pay is accepted.
"To some, the collaboration may be somewhat surprising, given PayPal's increasing incursions into the mobile payments market, which have made the service a kind of rival against Samsung Pay and other emerging mCommerce solutions". It's only available in the United States to start, but Samsung is working on adding it to the other 18 markets where Samsung Pay is available. After that, you can make payments directly through your PayPal wallet.
Neither PayPal nor Samsung has indicated exactly when support will be added, with "coming soon" being the only hint at a timescale. Customers will also still receive Samsung Pay benefits like rewards points and gift cards. Through Braintree Direct, merchants will be able to accept Samsung Pay as a method of payment in-app and online. These online merchants will simply need to add a few lines of code to integrate Samsung Pay into their platform. Already, there are many banks and payment gateways that supports Samsung Pay.
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There are millions of PayPal users, and earlier they were stuck with limited ways to use their funds on the service. Samsung phones have MST (Magnetic Secure Transmission) hardware under the hood, which makes Samsung Pay usable at outlets where debit or credit cards are accepted.
This move of Samsung and PayPal is profitable for both the companies.
"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". THis new addition will add one more jewel to the Samsung Pay's crown.
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