PayPal partners Samsung Pay

Samsung Pay is available to owners of the South Korean firm's Galaxy S8 and Galaxy S8

Samsung Pay is available to owners of the South Korean firm's Galaxy S8 and Galaxy S8

Samsung Electronics Co. said Monday it has clinched a strategic partnership with USA online payment service provider PayPal for an expansion of its mobile payment services.

PayPal is focused on delivering seamless mobile commerce experiences and extending this reach through strategic partnerships.

US customers will receive the payment option now through an update, and Samsung hopes to spread the service to further geographic markets soon.

It allows users to just tap and pay using the debit/credit cards and wallets stored on their mobile devices. In April, PayPal announced a deal with Android Pay that's almost identical to the one it just made with Samsung.

Samsung said it would begin the Samsung Pay service using PayPal first in the United States before gradually expanding it to other global markets. 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. 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. In addition, PayPal was added as a payment method within Samsung Smart TVs back in 2015.

"The partnership will help provide customers with various mobile payment services", said Rhee In-jong, the chief technology officer of Samsung's Mobile Communication Business. Now consumers will be able to make payments easily on Samsung's budget and mid-range phones.

Digital payments company MobiKwik has partnered Samsung Pay, under which consumers will be able to make payments with a single tap using select Samsung handsets. 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 nearly anywhere cards are accepted.

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