Visa and PayPal, two businesses already collaborating in the US and Asia Pacific to accelerate the adoption of easy and safe in-app and in-store payments, are rolling the benefits of their partnership out across Europe.
Under its banking license in Europe, PayPal is also joining the Visa networking of client financial institutions and will be able to offer Visa accounts in Europe. This enables consumers and businesses to use PayPal funds to spend wherever Visa is accepted across the world.
The following services benefits will be created:
"Visa and PayPal have a shared goal of giving consumers a safe, convenient way to pay using their preferred device. Expanding our partnership into Europe provides greater consumer choice and benefits merchants,” said Bill Sheedy, CEO, Europe Region, Visa Inc. “By having the option to issue Visa accounts in Europe, PayPal will now have the ability to offer customers new and innovative ways to manage and move their money regardless of platform or device.”
“The agreement announced today will deepen PayPal’s collaboration with Visa and its partners across our European markets,” said Rupert Keeley, Executive Vice President and CEO, PayPal (Europe) S.à r.l. & Cie, S.C.A. “Our partnership will enable us to offer more choice to millions of consumers and businesses through an expanded range of innovative products. Whether it’s online, in-app or in-store, PayPal with Visa will offer simple, secure and convenient ways to pay and get paid.”