Customers, Merchants and Financial institutions benefits..
On their long standing partnership, PayPal and Mastercard enabled Masterpass as a payment option for Braintree merchants and expand PayPal’s presence at the point of sale. With this, Mastercard cardholders, financial institutions and PayPal customers will be benefiting as users will be able to cash out from their PayPal accounts to a Mastercard debit card.
Mr. Dan Schulman, president and CEO, PayPal states that they will further expand the ubiquity and value of PayPal brand with each partnership agreement they sign as they are able to improve on their own economics. Mastercard has been PayPal’s trusted partner for many years. By collaborating and innovating together, PayPal will be able to help move digital payments forward. Mr. Ajay Banga, president and CEO, Mastercard states that the partnership with PayPal reinforces their commitment to billions of cardholders across the globe.
Boosting users experience
With the collaboration, PayPal and Mastercard offer consumers the flexibility to manage and move their money. Customers will be able to select Mastercard as their default payment method for quick and easy check-out, PayPal will not encourage Mastercard cardholders to link to a bank account via ACH, Mastercard will be presented as payment option within the PayPal Wallet, A familiar digital representation of Mastercard from the customer’s chosen issuer will be seen ensuring customer that payments made through PayPal are protected and PayPal will expand its presence at the point of sale by utilizing tokenization services from Mastercard.
PayPal and Mastercard will jointly focus on the following continuing to enhance data quality to deliver consistent transaction-level data for Mastercard issuers, to provide greater transparency for transactions at the point of sale through tokenization and collaboratively work with issuers to identify consumers who choose to migrate existing ACH payment flows to their Mastercard cards.
Photo Source: www.paypal.com