THURSDAY, March 28, 2024
nationthailand

MasterCard, PayPal integrate services in Asia

MasterCard, PayPal integrate services in Asia

MasterCard and PayPal have extended their partnership to the Asia-Pacific region in a deal that will expand PayPal’s presence at the point of sale and enable Masterpass for Braintree merchants.

The companies will use MasterCard’s new payment-flow technologies, adding value to cardholders, financial institutions and PayPal customers. 
PayPal consumers and small businesses will also be able to cash out funds in their accounts to a MasterCard debit card.
“Our partnership will continue to drive innovation, accelerate the move to digital payments and improve payment experiences for our mutual customers in the region,” PayPal chief executive Rohan Mahadevan said. 
“Whether paying in the physical or digital world, consumers want to see the familiar MasterCard brand from their chosen issuer,” MasterCard executive vice president Rama Sridhar said. 
The deal gives PayPal the opportunity to expand its presence at the point of sale by utilising tokenisation services from MasterCard. 
Consumers will be able to use MasterCard in their PayPal Wallet to make purchases at more than 6.5-million contactless-enabled retail outlets across the globe and move funds to their bank accounts via their MasterCard debit cards in real time.
 

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