PayPal relations with Apple broken down!
Samsung just announced that it is looking to partner with PayPal to establish a easier way to make mobile payments using the Galaxy S5’S fingerprint reader. This was obviously a direct in the face challenge with Apple’s new pay system announced at its event a month ago.
The minute this news reached Apple, it was set in stone that PayPal has been cut of the list of companies that will be working with the Cupertino company in its new Apple Pay initiative. Bank Innovation has reported as simple statement, “Apple is really pissed.” It seems this might also be the reason why former PayPal president David Marcus left the company for a position with Facebook. The deal with Samsung was reportedly passed down from eBay CEO John Donahoe, who seems to have dropped it in Marcus’ lap. Marcus basically didn’t want to be the one to blame and caught in the crossfire. Smart man.
Even without Paypal, Apple is set on making Apple Pay a success by forming partnerships with quite a handful of banks and card issuers. However, there may be hope to fix this relationship as PayPal is set to break away from eBay next year. Maybe all hope is not lost for PayPal!