Samsung Pay and PayPal has teamed up and this arrangement will apply for all purchases made online, in-app or at a retail store.
Samsung Pay has widened its scope by including PayPal as another payment channel that would add to the growing repertoire of payment solutions that the Samsung online transaction system is compatible with. With the newly found arrangement, current PayPal users will have another option to make good use of funds that they might have in their PayPal accounts.
The arrangement applies to purchases made online, in-app or in retail stores even though the change right now will only be applicable to those in the US. Samsung though stated the changes will be introduced to other regions of but stopped short of committing to any time window.
The development also no doubt adds to user’s convenience as more varied is the payment options, the greater flexibility you have when it comes to making any purchases. Users so far were able to channelise funds to Samsung Pay using credit cards, gift cards or directly from their bank accounts.
The new formed partnership between Samsung Pay and PayPal also makes a lot of sense for both. PayPal happens to be the second largest user base in the United States with 34 percent using the system. It is second to only Apple Pay that leads the pack with 36 percent user base.
In contrast, Samsung Pay is at a distant 18 percent, behind MasterCard PayPass, Android Pay and Visa Checkout each with 25 percent, 24 percent and 20 percent share of the user base that use such mobile based digital modes of payment.
The above figures are the result of a survey carried out by Boston Retail Partners and takes into account mobile payment made in the US last year.
The collaboration between Samsung Pay and PayPal also open up the use of the former for current users of Braintree. For those not in the knowing, Braintree happens to be a subsidiary of PayPal.