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PayPal inks partnership deal with Samsung Pay

PayPal inks partnership deal with Samsung Pay

Mobile wallet company MobiKwik has collaborated with Samsung Pay, to make its payment solutions available on Samsung Pay app.

MobiKwik wallet is now integrated with Samsung Pay Mini which allows users to make payments with "one-tap" at more than 1.4 million MobiKwik- powered merchants across the country, said the digital payments firm in a statement. 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.

For PayPal, the agreement with the South Korean smartphone giant follows similar partnerships with major mobile payment providers, which also aimed to expand the company's footprint by joining forces with the incumbents, instead of doing battle with them.

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PayPal has made a series of deals over the past year aimed at giving its mobile wallet more exposure for direct checkout. "Additionally, users will continue to benefit from Samsung Pay's unique value-added services, including gift cards, membership and loyalty cards".

According to March data from PYMNTS.com, Samsung Pay has the highest usage rate of the digital wallets with 4.5% of mobile users. In April, PayPal announced a deal with Android Pay that's almost identical to the one it just made with Samsung. With just a few lines of code, merchants will be able to easily integrate Samsung Pay, offering their customers greater flexibility in how they pay and reducing friction through faster and more secure checkout experiences. Sanjay Razdan, director, Samsung Pay Business, Samsung India, said, "We are enthused by the tremendous response Samsung Pay has received since its launch, both from our consumers as well as partners. By making it completely seamless to accept digital wallets like Samsung Pay, we're continuing to break down the barriers to checkout for our merchants".