Samsung Pay to Support PayPal Payments
Samsung Pay users will soon be able to make payments with PayPal on their mobile wallet. The feature will only be available in the United States initially, but could expand to other countries in the near future.
This partnership could mean big things for PayPal users. Since Samsung Pay is accepted almost everywhere, consumers will have instant access to their PayPal funds while shopping at stores. Currently, this feature is only available with stores that accept PayPal and for PayPal business account holders that have a debit card.
Samsung Pay’s technology allows the mobile wallet to pair with registers and POS systems, even if they do not have NFC enabled. It sends the same signal as a magnetic strip card, so users can pay with Samsung Pay at older registers. Soon, those same people will be able to make payments through PayPal on their mobile phones.
In other news, PayPal recently made a deal with Visa to issue debit cards in Europe. PayPal already has a banking license in Europe, and the new debit cards could threaten traditional banks across the continent. They have not announced when debit cards will be available, but plans are “under way.”