Samsung forms Strategic Alliance with PayPal for Online and Offline Transactions
Last week it was revealed that Apple customers in Canada and Mexico (and soon the U.S.) could use PayPal in iTunes and the App Store. Today we're learning from a new Korean report that Samsung's mobile payment service 'Samsung Pay' will partner with PayPal, the world's largest online payment platform, to expand its customers.
According to Samsung Electronics, Samsung Pay cut a strategic partnership deal with PayPal and decided to link PayPal accounts to the Samsung Pay mobile payment platform. Via this strategy, Samsung Pay will expand its customer base by partnering with PayPal, which is used by more than 200 million people, and PayPal will generate synergies by expanding offline payment areas.
According to the partnership, when Samsung Pay users register their PayPal accounts in Samsung Pay, they will be able to use PayPal at online and offline merchants. Payment via Samsung Pay using PayPal accounts will start in the US as early as this year and will expand to other countries in the future.
The partnership is to strengthen Samsung Pay over Apple Pay in the global market.
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