Visa and PayPal become “friends” in a new deal, consumers celebrate

22 July 2016

PayPal A leading electronic and mobile payments provider PayPal and Visa Inc are entering an epic partnership announced this Thursday. Now users will be able to make payments from their visa cards easier through PayPal platform, while at the moment payments are by default made to the PayPal or bank account.

An executive from Visa notes that it would be a great opportunity for users to experience another way of online transactions where their choice is prioritized. On the other hand he made a statement that the company is ready to compete and furthermore to war on PayPal.

Consumers of both companies may make instant transfers via the online payment system and Vemmo, while it took a long time before to have their money cleared during transfers. eBay online payment subsidiary is also joining the mobile payments program of Visa and plans to provide more information on transactions to the credit card operators.

While PayPal may see more volumes and increased number of transactions, it may suffer some negative effect on its profit margins, as noted by a research institute.

Talking to its investors at the meeting PayPal explained that there would be increased expenses incurred by the company for a short time, while they still would bring sustainable advantages, including expansion in new cooperation opportunities.

While both companies still remain rivals across their competing platforms, consumers seem to greatly benefit from the deal having access to more convenient transaction option with Visa card and their online account.

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