PayPal has rolled out a new top-up card capability to allow its users to make transactions at all physical stores accepting Samsung Pay.
The move comes as a result of an alliance formed by the companies in July last year to offer PayPal as a payment option with Samsung Pay.
The new PayPal top-up card can be created under the payment card section on Samsung Pay. During registration, users will be prompted to provide a specific PIN for in-store transactions.
Customers linking their Paypal Wallet, which can be loaded with debit card or bank account, to Samsung Pay will also be able to earn Samsung Rewards points.
PayPal uses tokenisation to improve security by replacing actual payment details with a virtual account number, eliminating the process of sharing information with the merchant.
PayPal head of payments, product & engineering Jim Magats said: “Don’t worry – when you use your phone to pay in stores, PayPal doesn’t send your actual payment information to merchants. Instead we use a virtual account number leveraging tokenisation to represent your account info – so your specific payment information isn’t shared with the merchant.
“In addition, Samsung Pay offers greater peace of mind for customers and merchants than plastic cards thanks to a multi-level approach to security that includes biometric authentication, tokenisation of payment credentials and Samsung’s Knox security platform.”