Visa and PayPal continue to foster their strategic partnership in Canada as they recently announced that they would keep working together to accelerate the adoption of secure, reliable, and convenient digital and mobile payments for the shoppers and sellers in Canada. Already working in collaboration in the US, Asia Pacific and Europe, this partnership will benefit the Canadians.
The partnership creates a flawless experience for the shoppers who choose to pay with a Visa card at a place accepting PayPal. As the collaboration between bank partners and PayPal takes place, shoppers will be able to add their Visa cards to PayPal digital wallet easily from other banking apps.
This also permits PayPal to leverage Visa Direct (a real-time payment solution); a payment solution that allows Visa cardholders to move money easily from the PayPal account to an eligible Visa debit card in real-time.
In addition, both the firms have agreed to increase participation in the Visa Digital Enablement Program (VDEP) that provides Visa’s partners with access to tokenization technology allowing an easy and secure payment on mobiles or other devices. Consequently, this will expand the use of PayPal to businesses that accept Visa.
"This partnership will open new avenues for Visa and PayPal to collaborate to honour consumer choice and provide greater benefits to merchants and issuers," said Stacey Madge, Country Manager and President, Visa Canada. "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."
"PayPal and Visa are leaders in building incredible digital and mobile payment experiences. 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," shared Paul Parisi, President, PayPal Canada.