PayPal And Visa Announce Extension Of Partnership In Asia Pacific

(RTTNews) - PayPal (PYPL) and Visa (V) announced an extension of their U.S. partnership in Asia Pacific that will see them work collaboratively to accelerate the adoption of secure, reliable and convenient digital and mobile payments for consumers and merchants in markets throughout the region.

The partnership expands the use of PayPal to retailers that accept Visa in physical locations.

Visa and PayPal agree to extend participation in the Visa Digital Enablement Program (VDEP). VDEP provides 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 and Visa will work together to expand access to enable the use of electronic payments in emerging markets in the Asia Pacific region.

Visa will provide the option for PayPal to leverage Visa Direct (Visa's push payments solution), allowing PayPal customers to move funds to their Visa accounts in real time across multiple markets.