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Samsung, PayPal ink strategic partnership

2017/07/17 22:40

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SEOUL, July 17 (Yonhap) -- Samsung Electronics Co. said Monday it has clinched a strategic partnership with U.S. online payment service provider PayPal for an expansion of its mobile payment services.

The move will allow Samsung's mobile payment platform Samsung Pay to be linked to PayPal accounts, which paves the way for Samsung to expand its consumer base, according to Samsung. More than 200 million people use PayPal.

For PayPal, it is expected to expand its service into offline payments, it said.

The service is likely to start as early as this year with Samsung eyeing expansion into other countries.

"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.

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

So far this year, it launched its Samsung Pay service in nine countries including Thailand and India.