PayPal partners Samsung Pay

Geronimo Vena
Luglio 17, 2017

Samsung Pay (OTCPK:SSNLF, OTC:SSNNF) adds PayPal (NASDAQ:PYPL) as an accepted payment method in the mobile payment system. Through the partnership, more than 200 million users of Samsung Pay will be able to pay through their accounts with PayPal, one of the world's largest internet payment companies.

Importantly, this is not the same as getting a PayPal debit card and registering it with Samsung Pay. Effectively, Pay users can now use their PayPal balance to make purchases anywhere - in-app, online and in eligible stores.

Samsung has forged a strategic partnership with players in 18 markets including the USA and Brazil over its mobile payment platform.

Initially, access to PayPal payments will be limited to Samsung Pay users in the US, but it will be extended to other markets shortly. Samsung says that it will roll out support for Samsung Pay users in other markets in the coming weeks.

In addition, PayPal just last week announced an expanded relationship with Apple, which allowed the payments platform to be included as a payment option for App Store purchases that's now accessible via Apple's mobile devices, both in the USA and in 11 new markets.

To increase its adoption in-store, PayPal past year partnered with major stakeholders like Visa and MasterCard for store payments. At PayPal, we've seen - and helped enable - a major shift to mobile. A year ago alone, PayPal processed $102 billion in mobile payment volume and two billion mobile payment transactions. Today, it's adding something that isn't a card-PayPal accounts.

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