Samsung Electronics is extending its payments partnership with Checkout.com into Europe and North America, targeting higher transaction success rates across Samsung.com, the Galaxy Store and other digital commerce channels.
Samsung Electronics has struck a global payments partnership with Checkout.com as it looks to widen the reach of Samsung Pay and improve the performance of its digital commerce systems. According to the companies, the deal will extend Checkout.com’s existing work with Samsung Gulf Electronics beyond the Middle East, North Africa region and into additional Samsung online retail environments in Europe and North America, including Samsung.com and the Galaxy Store. The companies said the arrangement will draw on Checkout.com’s acquiring network, payment-processing tools and optimisation technology to cut failed transactions and make checkout smoother across Samsung’s wider commerce ecosystem. Checkout.com’s AI-driven Intelligent Acceptance system will be used to analyse real-time payment data and improve transaction success rates, while Samsung Pay is set to appear on Checkout.com’s Flow integration on 31 October, giving merchants a simpler way to add the wallet to online and in-app payments. In comments released with the announcement, Samsung Electronics executive vice-president Woncheol Chai said the company needed payment infrastructure that could scale across markets, while Checkout.com chief revenue officer Antoine Nougué said the partnership would give Samsung more flexibility and merchants more choice. The deal also comes as Checkout.com seeks to underline its enterprise credentials: the company says it now serves more than 1,700 enterprise merchants, has recently added Microsoft, Spotify and Best Buy to its roster and has reached $750 million in annualised net revenue, up 28% year on year, with the United States its fastest-growing market.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
