Visa and PayPal have inked an extension of their strategic partnership to Europe. The two companies are already collaborating in the U.S. and Asia Pacific for online, in-app and in-store payments.
PayPal – under its banking license in Europe – is joining the Visa network of client financial institutions, and will be able to offer Visa accounts in Europe. This means consumers and businesses can use their PayPal accounts to pay wherever Visa is accepted worldwide.
Visa and PayPal have also agreed to extend participation in the Visa Digital Enablement Program (VDEP) in Europe. VDEP provides Visa’s partners with access to tokenization technology, which enables payment on mobile phones or any connected device.
[Image courtesy: Visa]