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10th October 2017
Mastercard and PayPal expand digital partnership globally
Mastercard and PayPal are to expand their longstanding partnership into Canada, Europe, Latin America and the Caribbean, and the Middle East and Africa, to enhance customer choice, optimise the consumer experience and make Mastercard a clear payment option within PayPal across the globe. With the addition of these markets – and following the recent expansion of their partnership into the US and Asia Pacific – Mastercard and PayPal have now reached a global agreement.
Similar to previous agreements, the expansion will create a number of joint growth opportunities that will advance Mastercard and PayPal’s shared vision to offer consumers greater choice and flexibility to manage and move their money:
• Mastercard will be presented as a clear and equal payment option within the PayPal Wallet, making Mastercard and their issuers easily identifiable to the consumer when transacting.
• Mastercard and PayPal will work together to leverage new Mastercard payment flow technologies, providing increased value to Mastercard cardholders, financial institutions, and PayPal customers.
• PayPal will have the opportunity to expand its presence at the point of sale by utilising tokenisation services from Mastercard.
• Masterpass will be presented as a payment option for merchants that process payments via Braintree in Europe, Latin America and the Caribbean, and the Middle East and Africa – in addition to the US and Asia Pacific.
Ann Cairns, President International, Mastercard, said: “People everywhere know and trust the familiar Mastercard brand, whether they’re paying in the physical or digital world. Our expanded partnership with PayPal affirms our commitment to our billions of cardholders across the globe to deliver the simple, speedy and secure payment experience they’ve come to expect from Mastercard, across devices and channels.”
Gary Marino, Chief Commercial Officer at PayPal, said: “[This] news is the latest in a line of great partnership developments with Mastercard. Together we expect to accelerate digital payment adoption across the world, improve the payment experience online, in-app and in store, and empower millions of consumers to seamlessly manage and move their money.”