April 26, 2024

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[THE INVESTOR] Samsung Electronics said on July 17 it has inked a strategic partnership with PayPal for the expansion of its own mobile payment system.

The partnership will connect Samsung Pay with PayPal accounts, paving the way for Samsung to further expand its user base. Currently, more than 200 million people use PayPal around the world. 

Samsung said the service will start as early as this year first in the US and then enter other markets in phases.

“The partnership will help provide customers with various mobile payment services,” said Rhee In-jong, CTO of Samsung’s Mobile Communication Business.

Samsung has forged a strategic partnership with players in 18 markets including the US and Brazil for its mobile payment platform.

By Alex Lee and news wires (alexlee@heraldcorp.com)