PayPal will soon be added as a payment method in addition to bank accounts, credit cards, and gift cards on Samsung Pay. According to commentators, it was a minor update that could be useful for PayPal customers who wanted more avenues to spend their PayPal balance in stores, as Samsung Pay was widely accepted anywhere that a credit card was.
With the new partnership, merchants would also be able to use Braintree, PayPal's subsidiary, to add Samsung Pay as a checkout option. The update, which will come soon will be available first for customers in the US, with a more global expansion to follow.
According to commentators it may be time for PayPal to also include Venmo as a payment method so users could spend all those cab and brunch shares from friends on places other than inside the Venmo app itself. Currently Venmo payments were still only available to select merchants in a limited beta.
''At Samsung, we pride ourselves on our open model of partnership and collaboration, which helps us deliver the best experience to our customers,'' said Rhee In-jong, head of Samsung's research and development for software and services, www.scmp.com reported.
''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.''
Meanwhile, expressing hopes that the strategic partnership will create synergy, PayPal's chief operating officer, Bill Ready said, ''At PayPal, we are focused on creating the best mobile commerce experience for our customers, and partnering with technology leaders, like Samsung, to create an experience that our millions of joint customers love and can utilise no matter where they shop.''