This integration allows users to make payments with a tap of their iPhone or Apple Watch, both in-store and online, the company said in a Tuesday (Oct. 3) press release. The added benefit is that customers can still earn the same cashback and rewards on their eligible purchases.
Security is a priority for both Apple Pay and PayPal, the release said. When customers pay with Apple Pay, every purchase is authenticated with Face ID, Touch ID or a device passcode, along with a one-time unique dynamic security code. PayPal also ensures that transactions are protected and secure, whether customers pay using a smartphone or their physical card.
Setting up and using a PayPal or Venmo credit or debit card with Apple Wallet is a straightforward process, per the release. Users visit the Apple Wallet app, select “add debit or credit card,” and then either scan their card or manually enter the card details.
Once the card is added, users can complete in-store purchases by double-clicking the side button, authenticating with Face ID or Touch ID, and holding their iPhone or Apple Watch near a reader, according to the release. For online or in-app purchases, users can proceed to check out, tap the Apple Pay button, and follow the steps.
PayPal plans to offer the option to add a PayPal Business Debit Card, as well as Venmo credit or debit cards, to Apple Wallet through the PayPal or Venmo apps in the coming months, the report said.
PYMNTS Intelligence has found that convenience is a main factor behind the uptick in digital wallet use for online transactions. including bill pay, sports betting and online retail purchases. However, these online gains in digital wallet use have not extended to in-store purchases yet, according to “Digital Economy Payments: The Ascent of Digital Wallets.”