Samsung Pay users will now be able to pay for their products and services using PayPal Holdings Inc’s payment window.
Samsung announced that its digital wallet can now access PayPal to pay for for apps and in-app purchases, products in retail stores, as well as to make payments online. Additionally, Samsung Pay can now be used as a form of payment in-app and online for PayPal’s Braintree merchant base.
Millions of stores will now be able to accept payments from PayPal through Samsung Pay, the companies announced Tuesday. The electronics maker’s technology and the online payment services provider both use an NFC point-of-style system. Samsung Pay also uses Magnetic Secure Transmission (MST) technology, allowing you to mimic the effect of a card swipe, which should work anywhere that accepts the service.
PayPal can be used as a method of payment by 34% of merchants in the U.S., while Samsung Pay can only be used by 18% of merchants.
“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,” said Injong Rhee, CTO and Head of R&D, Software and Services of the Mobile Communications Business, Samsung Electronics.
Last month, PayPal expanded its partnership with Apple Inc (NASDAQ:AAPL) in order to allow its payment services to pay for products in iTunes, iBooks, the App Store and Apple Music.
PYPL stock rose 2.1% Tuesday.
