MobiKwik's mobile wallet will also be available soon to Samsung Pay users, it added. Through the partnership, more than 200 million users of Samsung Pay will be able to pay through their accounts with PayPal, one of the world's largest internet payment companies.
PayPal says: "Coming soon, consumers in the USA will be able to use PayPal within Samsung Pay at millions of retailers". Apple Pay comes in second at 4%, and Android Pay comes last at 1.1%. Starting today in the USA and coming to other markets soon, PayPal users will be able to add their account and use funds just like any other bank to make purchases wherever Samsung Pay is accepted.
We will continue forging new collaborations with leaders across the tech and financial worlds to expand the reach of our products, explore new contexts, increase conversions for our merchants, create better mobile experiences and give our consumers the flexibility, security and speed that digital payments can offer.
Additionally, Samsung Pay will be available via Braintree Direct, allowing merchants to accept Samsung Pay as a payment method.
"The partnership will help provide customers with various mobile payment services", said Rhee In-jong, the chief technology officer of Samsung's Mobile Communication Business.
This strategic partnership between Samsung and PayPal will mutually benefit both organizations' customers.
Samsung had unveiled a "Mini" version of the platform that integrates UPI and mobile wallets to work on mid-range priced smartphones. Now consumers will be able to make payments easily on Samsung's budget and mid-range phones.
For PayPal, it is expected to expand its service into offline payments, it said. MST replicates a card swipe by wirelessly transmitting magnetic waves from the supported Samsung device to a standard card reader, allowing Samsung Pay to work nearly anywhere cards are accepted.