Visa and PayPal announced news on Wednesday, May 9, that they have expanded their strategic partnership to include Canada, where the two companies will work together to accelerate adoption of secure, reliable and convenient digital and mobile payments for consumers and merchants.
In a press release, Visa and PayPal said they’ve already collaborated in the US, Asia-Pacific and Europe and are now including Canada in their efforts. According to the two companies, the goal of the partnership is to help create a seamless experience for consumers when they pay with a Visa credit card at places that accept PayPal. Consumers in Canada will be able to add Visa cards to their PayPal digital wallet easily from other banking apps.
The partnership also enables PayPal users to access Visa Direct, Visa’s real-time payments solution, which can be used to move funds more easily from a PayPal account to a Visa debit card in real time. The two payments companies have also agreed to extend participation in the Visa Digital Enablement Program, which provides Visa’s partners with access to tokenization technology. With the tech, simple and secure payments can be made on mobile phones or any other internet-connected device.
“This partnership will open new avenues for Visa and PayPal to collaborate to honor consumer choice and provide greater benefits to merchants and issuers,” said Stacey Madge, country manager and president of Visa Canada, in the press release. “By working together, we will be able to bring more innovative products and enhance payment experiences online, in-app and in-store for our joint customers.”
Meanwhile, Paul Parisi, president of PayPal Canada, said in the same press release that PayPal and Visa are leaders in building digital and mobile payment experiences for the masses.
“We are delighted to collaborate and drive greater value for our 6.5 million customers in Canada by offering them more choice in how and where they pay,” Parisi added.
Full Content: PR Newswire
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Antitrust Lawsuit Targets RTX’s Pratt & Whitney Canada
May 14, 2024 by
CPI
Former Sales Pro Admits to Bid Rigging Targeting US Schools
May 13, 2024 by
CPI
Macron Advocates EU Financial Integration Amid Push for Global Competitiveness
May 13, 2024 by
CPI
Microsoft Faces EU Antitrust Charges Over Teams Software
May 13, 2024 by
CPI
EU Antitrust Complaint Filed Against Edwards Lifesciences by Indian Rival Meril
May 13, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI