[Fintech Global] Skipify announces Samsung investment to accelerate its Next-Gen Digital Wallet
Skipify has announced a strategic investment from Samsung Next, an investment group within Samsung Electronics, to accelerate its Next Gen Digital Wallet.
This move adds Samsung Next to a distinguished list of financial institutions and technology giants that have endorsed Skipify and integrated their cards and accounts into the revolutionary Connected Wallet. Notable among these strategic investors are Amex Ventures, PayPal Ventures, Synchrony Ventures, amongst others.
The partnership underscores Skipify’s unwavering commitment to revolutionising the online and in-store shopping experience, and cements it as a frontrunner in the realm of digital commerce.. At the core of Skipify’s mission is its pioneering product, the Connected Wallet, a next-gen digital wallet designed to unite Merchants, Shoppers, and Financial Institutions seamlessly at the point of purchase.
Carlos Castellanos, investor at Samsung Next, said, “We invested in Skipify because of the potential this seamless and native checkout experience could bring to Samsung users and beyond. We’re excited to join them on this journey, as they embrace the challenge of defining new opportunities and aim to shape the future of shopping experiences.”
Ryth Martin, founder & CEO of Skipify, said, “As the global leader in mobile devices, we’re excited by what this investment from Samsung Next could unlock for our merchant and bank partners, as we expand our reach and extend into in-store physical payments.
Samsung Next’s investment follows closely on the heels of Skipify’s introduction of Card Linking in partnership with American Express, a milestone announced in August 2023.
Skipify’s core mission revolves around creating real-time connections between shoppers, merchants, and financial institutions, offering a range of unique advantages to all participants in the ecosystem. Through its use, merchants witness a remarkable uptick in conversion rates, along with an industry-leading authorisation rate of 99%, all while maintaining crucial relationships with shoppers and enhancing the overall shopping experience.