PayPal announced Monday it has inked a deal with Samsung Electronics enabling PayPal as a payment choice with the South Korean-based consumer electronics digital payment service.
In a blog post, PayPal executive vice president and chief operating officer Bill Ready said the deal with Samsung brings PayPal to more customers. With the deal, PayPal will be listed as a payment method in Samsung Pay and can be used anywhere Samsung Pay is accepted in-store, online or in-app.
“This partnership will allow our mutual customers to pay across even more mobile contexts, as consumers increasingly turn to their phones to manage and move their money,” said Ready in the blog post. “At PayPal, we’ve seen — and helped enable — a major shift to mobile. Last year alone, PayPal processed $102 billion in mobile payment volume and two billion mobile payment transactions. This partnership will give our customers the ability to pay with mobile almost anywhere consumers can swipe or tap a credit card, as Samsung Pay works in almost any in-store POS location in the U.S.”
The executive noted that with the deal, PayPal is enabling merchants to accept Samsung Pay via Braintree Direct. The PayPal integration with Samsung Pay is supported on Samsung smartphones including the Samsung Galaxy S8 and S8+.
“PayPal and Samsung have had a strong partnership for several years now," Ready noted in the blog post. "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.”
The announcement with Samsung Pay comes just a days after PayPal announced it is now available in the iTunes, App Store or Apple Music payments menu for transactions made on an iPhone, iPad or iPod in Mexico or Canada. The feature is reportedly going to be available soon in the U.S., though no specific data or time frame for that rollout has been released.