Samsung has formed a partnership with PayPal. This partnership will allow users of Samsung mobile payment service to make payments online and offline even from Paypal.
You can now link your Paypal account to Samsung pay and make payments seamlessly from your Paypal account anytime, anywhere. It’s like having your Paypal account in your pocket.
It all starts with linking or registering your PayPal account on your Samsung Pay payment platform. This means that you can now pay for products using your PayPal account through Samsung Pay.
This partnership will be of great benefit to Samsung and users of the Samsung Pay payment platform.
It’s a great deal for Samsung because PayPal has over 200 million users in 200 countries worldwide. PayPal also supports 25 currencies.
Partnering with such a platform is a real business.
This partnership will also be of great benefit to users because firstly, with PayPal, you cannot make payments offline. But with this partnership, you can indirectly use your PayPal account offline.
Secondly, you can make payments when you run out of cash on the credit and debit smart cards linked to your Samsung Pay payment platform.
Let’s go further…
Before I proceed, users need to understand that the Samsung Pay payment service is not available in all countries worldwide.
With Samsung Pay, you can link your credit card and make payment at any store that supports the Samsung Pay payment service.
All you have to do is link your card – up to ten cards are allowed – to Samsung Pay and you will be able to make payments with these cards anywhere.
You can link your MasterCard, Visa, American Express or your Discover cards to Samsung Pay.
The Samsung Pay payment system works using Magnetic Secure Transmission (MST) developed by LoopPay, a company acquired by Samsung in 2015.
When you hold your phone against a compatible payment device or system, the phone emits magnetic signals which the receiving system with MST technology can decode.
At this point, your phone simulates the magnetic stripes at the back of your credit card by sending these magnetic signals.
Once the payment process is complete, you will receive a notification on your Samsung Pay app.
This is similar to linking credit card cards. Your Paypal account will connect to your Samsung Pay and allow you the comfort of using funds from your Paypal account to make payments online and offline at any time.
See this article by Samsung on how to link your Paypal Account to your device for the first time.