NFC TIMES Exclusive Insight – PayPal is believed to have cut its deal with Samsung to be part of the Samsung Pay wallet mainly to gain access to the device maker’s MST technology, enabling consumers to pay in stores with their PayPal accounts without having to look for an NFC-enabled POS terminal.
PayPal, which has suffered a long string of failures over the past five years in trying to expand its large online payments business to the offline world with in-store transactions, already has a deal in place with Google, announced in April, to be part of the Android Pay wallet. But while the “Pays” wallets, in general, are showing disappointing results in the U.S., Android Pay is trailing well behind both Apple Pay and Samsung Pay in transactions, processors have told NFC Times.