Samsung Invests in Fintech Firm Skipify

  Skipify

Samsung has made a strategic investment in fintech company Skipify, whose technology is designed to streamline the online checkout experience. The specifics of the investment have not been disclosed.

What is Skipify?

Skipify works with financial institutions to securely pull and store consumer payment and billing address information. The aim is to simplify and expedite the checkout process, enhancing the online shopping experience.

Other Investors in Skipify

Samsung now joins a list of distinguished investors in Skipify, including American Express, PayPal Ventures, Synchrony Ventures, Flourish Ventures, and Okta Ventures.

Why Samsung Invested

Carlos Castellanos, investor at Samsung Next, explained the rationale behind the investment. He said the company saw potential in Skipify’s smooth and native checkout experience for Samsung users and beyond. He also expressed excitement about joining Skipify in defining new opportunities and shaping the future of shopping experiences.

Skipify’s Recent Developments

This investment from Samsung comes on the back of Skipify’s recent partnership with American Express for Card Linking, announced in August 2023. Ryth Martin, the founder and CEO of Skipify, stated that the investment from Samsung Next could unlock new possibilities for their merchant and bank partners as they plan to expand their reach and move into in-store physical payments.