Customers can now pay with Visa where PayPal is accepted, and vice versa. Visa and PayPal have been working in partnership in the US and now that capability is coming to Asia Pacific.
This partnership makes it easier for Visa issuing banks in Asia Pacific to offer their cardholders the ability to checkout anywhere PayPal is accepted online. The partnership will see customers given the choice to pay with their Visa card at retailers that accept PayPal, and vice versa. Collaborating with Visa bank partners, consumers can easily add Visa cards into PayPal from other banking apps.
On the digital platform, both companies will be working together on the Visa Digital Enablement Program (VDEP), where Visa’s partners with access to tokenisation technology, which enables payment on mobile phones or any connected device. This will expand the use of PayPal to retailers that accept Visa in physical locations.
PayPal can also leverage Visa’s push payments solution, Visa Direct, allowing PayPal customers to move funds to their Visa accounts in real time across multiple markets. PayPal and Visa will work together to expand access to enable the use of electronic payments in emerging markets in the Asia Pacific region.
“This is a strong signal that our decision to partner in 2016 was the right thing to do for PayPal, Visa and our millions of merchants and consumers in this region. We look forward to partnering with Visa to offer more choice and better experiences together online, in app and in store within Asia Pacific.” said Dr. Rohan Mahadevan, Senior Vice President for PayPal Asia Pacific.
“Visa and PayPal are aligning our businesses to bring best in class payment services to the entire ecosystem,” said Chris Clark, Group Executive, Asia Pacific, Visa. “From emerging markets where we’ll give consumers greater access to electronic payments to driving more seamless ways to pay in developed markets, Visa and PayPal will deliver new commerce experiences across the region.”
