PayPal starts deeper integration of Mastercard services along with joint global expansion

5 October 2017

PayPal Mastercard and PayPal are expanding their global presence along with deeper integration of their services. According to the official statement made by the two companies, their services will be further expanded into Canada, Europe, Latin America, the Caribbean, the Middle East and Africa. Mastercard and PayPal believe a new format of their partnership will create more opportunities for advancing their vision to provide wider choice and more flexibility for their customers.

Gary Marino, speaking for PayPal, noted that the announcement of the new partnership is a new milestone in promoting adoption of electronic payments globally, enhancing customer experience when they pay online and use applications and make purchases in physical stores.

Expansion of their partnership will involve availability of Mastercard within the PayPal Wallet as a clear and equal payment method along with other options, enabling customers to easily identify Mastercard and its issuers when making transactions. Besides, PayPal users will also be able to set Mastercard as their default payment option, which will facilitate the checkout process.

In addition, the companies will join forces to implement new payment flow technologies across PayPal network so that customers could easily link their Mastercard cards to PayPal directly from banking applications. PayPal will also be able to expand its recognition at the POS through adoption of Mastercard’s tokenization services. It means that customers will be allowed to make contactless payments using tokenized Mastercard in the PayPal Wallet worldwide. Customers will also have an option to transfer funds from their PayPal accounts to Mastercard debit cards.

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