Samsung reportedly meets with PayPal to discus Samsung Pay

According to a report from KoreaHerald, Lee Jay-yong, Samsung Electronics vice chairman, met with Peter Thiel, co-founder of PayPal to discuss “Samsung Pay,” the South Korean tech giant’s rumoured mobile payment service.

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Samsung’s meeting with PayPal comes after it announced its acquisition of start-up LoopPay. Past reports have revealed that Samsung’s purchase of LoopPay instantly gives Samsung the upper hand over Apple’s Apple Pay.

According to the site’s anonymous source, “Samsung’s Lee may have asked for business advice from Thiel, who is an expert in fintech. Expectations are high that Samsung will soon launch a new competitor to Apple Pay.”

This said, it is expected that Samsung Pay will make its debut on board the Samsung Galaxy S6 and the Samsung Galaxy S6 Edge. Samsung’s next flagship will be officially unveiled at MWC 2015, which kicks off on the 1st of March in Barcelona, Spain.

So far, we’ve learned that the Samsung Galaxy S6 and the Samsung Galaxy S6 Edge will sport a 5-inch screen with a resolution of 1440 x 2560 pixels (Quad HD), a 20-megapixel rear-facing camera with optical image stabilisation (OIS), a 5-megapixel front-facing selfie-centric camera, 32 GB of internal storage, Samsung’s Exynos 7420 64-bit octa-core processor under the hood, 3 GB of RAM, and a 2,600 mAh battery. It will run Android 5.0 (Lollipop) out of the box. As for its UI, it is said to be the first device to have a 64-bit version of Samsung’s TouchWiz UI.

Keep it here at Phones LTD for further updates.

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