Samsung Pay To Add PayPal Wallet As a Payment Method Soon
After integration with Android Pay, PayPal is now making an entry on Samsung Pay. Today, Samsung announced the newly formed partnership with PayPal, as a payment method on Samsung Pay.
Starting in the US, PayPal users will soon be allowed to add their account on Samsung Pay and use it like any other bank to buy stuff at outlets where Samsung Pay is accepted. Users will also receive Samsung Pay benefits such as rewards points and gift cards when using PayPal on it. The benefit program for Samsung Pay users runs for other payment methods as well - you just have to use Samsung Pay regardless of what payment source you choose.
Samsung is also working on expanding PayPal wallet support to the other markets it serves, including South Korea, Spain, China and India, soon.
Along with extending PayPal's usability at physical stores, the collaboration between the two companies should also support Samsung Pay online. PayPal’s Braintree Direct service also supports Samsung Pay now, which makes it easier for the merchants to receive it as a form of online payment.
In its blog post about partnership with Samsung Pay, PayPal's COO Bill Ready writes:
PayPal and Samsung have had a strong partnership for several years now. In 2014, we worked with Samsung to enable mobile payments with just a fingerprint. The following year, PayPal was added as a payment method within Samsung Smart TVs. 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.
There are millions of PayPal users, and earlier they were stuck with limited ways to use their funds on the service. By partnering with Samsung, PayPal has opened new avenues for its users to utilise their funds. Samsung Knox security backs Samsung Pay, which is a high level of security concerning secure ecosystem for PayPal. Even though Android Pay brought PayPal support earlier than Samsung Pay but the latter is more popular as a payment 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.