Mastercard and PayPal expand Partnership in Asia
Mastercard and PayPal have announced an extension of their partnership into Asia-Pacific.
The deal will expand PayPal’s presence at the point of sale and enable Masterpass for Braintree merchants in the region. Additionally, both companies will collaborate to create opportunities to leverage Mastercard’s new payment flow technologies, providing increased value to Mastercard cardholders, financial institutions, and PayPal customers. PayPal will also have the opportunity to give consumers and small businesses across Asia-Pacific the ability to cash out funds held in their PayPal accounts to a Mastercard debit card.
Through collaborations with Mastercard bank partners, consumers will be able to add Mastercard cards into PayPal from banking apps. Mastercard will be presented as a clear and equal payment option within the PayPal Wallet, making it easily identifiable to the consumer when transacting. Customers will also see a familiar digital representation of their Mastercard from their chosen issuer.
The deal will also give PayPal the opportunity to expand its presence at the point of sale by utilizing tokenization services from Mastercard. This will allow consumers to use their tokenized Mastercard in their PayPal Wallet to make in-store purchases. In addition, customers will have the ability move funds to their bank accounts via their Mastercard debit cards in real time across multiple markets.
The partnership will also bring more choice for merchants, adding Masterpass as a payment option for those that process payments via Braintree. Merchants that leverage Braintree will be able to integrate Masterpass.
3 Aug 2017