In a significant development for the world of fintech and shopping, Skipify, a San Mateo-based fintech company, has announced a strategic investment from Samsung Next, a prominent investment group within Samsung Electronics. This partnership represents a notable step in Skipify’s ongoing commitment to enhancing shopper purchasing experiences both online and in physical stores.
Central to this endeavor is Skipify’s innovative Connected Wallet, a next-generation digital wallet that facilitates seamless interactions between Merchants, Shoppers, and Financial Institutions at the crucial moment of purchase, thus revolutionizing the shopping experience.
A key highlight is Skipify’s collaboration with major financial institutions, including American Express, to create a comprehensive ecosystem. This article delves into the details of this strategic investment and the transformative potential it holds.
Samsung Next Joins Skipify’s Impressive Roster of Strategic Investors
Samsung Next’s investment in Skipify signifies a significant milestone in the company’s journey. The investment group joins the ranks of major financial institutions and technology giants that have already thrown their weight behind Skipify, aligning their cards and accounts with Skipify’s Connected Wallet.
Some of Skipify’s other strategic investors include Amex Ventures, PayPal Ventures, Synchrony Ventures, among others. This collective backing underscores the immense confidence these entities have in Skipify’s vision of redefining shopping experiences.
“We invested in Skipify because of the potential this seamless and native checkout experience could bring to Samsung users and beyond,” noted Carlos Castellanos, an investor at Samsung Next. “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.”
Skipify’s Vision and Impact
Skipify’s Founder & CEO, Ryth Martin, expressed enthusiasm about the partnership, especially in the context of extending their reach into in-store physical payments. As a global leader in mobile devices, Samsung Next’s investment holds the promise of unlocking new horizons for both merchants and financial institutions associated with Skipify.
Skipify’s Connected Wallet: Transforming Shopping Ecosystems
Skipify’s Connected Wallet represents a paradigm shift in the way shoppers, merchants, and financial institutions interact. Through strategic collaborations with these stakeholders, Skipify has created a real-time nexus that offers unique advantages to all participants in the ecosystem.
Merchants leveraging Skipify can anticipate an impressive uptick in conversion rates, up to 10%, along with industry-leading authorization rates exceeding 99%, all without compromising on security. Importantly, merchants retain their valuable relationships with shoppers, order and shopping data, and can craft enhanced purchasing experiences that elevate their brand’s appeal.
Financial institutions, on the other hand, gain access to innovative ways of engaging with their cardmembers. They can seamlessly surface cards, points, alternative payment methods, and more during the checkout process in real time. Moreover, with real-time step-up authentication, financial institutions can achieve industry-leading authorization rates and capture a greater share of their cardmembers’ wallets.
Shoppers themselves benefit from this ecosystem by gaining effortless access to their payment cards and the ability to apply points and rewards to offset their basket’s cost. The result is a win-win situation for all stakeholders in the shopping experience.
- Skipify, a fintech company, secures a strategic investment from Samsung Next, signaling its dedication to improving shopping experiences.
- Skipify’s Connected Wallet fosters real-time connections between Merchants, Shoppers, and Financial Institutions, backed by major players like American Express.
- Samsung Next joins a list of strategic investors, including Amex Ventures and PayPal Ventures.
- Skipify’s solution boosts merchant conversion rates by 10% and achieves industry-leading authorization rates.
- Financial institutions benefit from increased engagement and real-time authentication.
- Shoppers enjoy easy access to payment cards and can utilize rewards to pay for purchases.
Hi, I’m Oren, founder at BIGINTRO, a content strategy agency that helps B2B companies drive growth. We develop search, social, PR, and content marketing strategies tailored to business goals. I also have a dog named Milo.