Mastercard and PayPal Expand Partnership in Asia Pacific to Spur Mobile and Digital Commerce
Agreement will expand customer choice and enhance user experience across the regionhttp://mstr.cd/2w5c6Ny
Auckland, 3 August 2017 – Mastercard (NYSE: MA) and PayPal (NASDAQ: PYPL) today announced an extension of their partnership into Asia Pacific to
enhance the consumer experience and make Mastercard a clear payment option within PayPal.
The deal will expand PayPal’s presence at the point of sale and enable Masterpass for Braintree merchants in the region.
Additionally, both companies will collaborate to create opportunities to leverage Mastercard’s new payment flow
technologies, providing increased value to Mastercard cardholders, financial institutions, and PayPal customers. PayPal
will also have the opportunity to give consumers and small businesses across Asia Pacific the ability to cash out funds
held in their PayPal accounts to a Mastercard debit card.
“We’re excited to extend our long standing partnership with Mastercard into Asia Pacific,” said Rohan Mahadevan, Chief
Executive Officer, PayPal Pte Ltd and Senior Vice President, APAC, PayPal Inc. “Our partnership will continue to drive
innovation, accelerate the move to digital payments, and improve payment experiences for our mutual customers in the
region, unlocking the potential to millions of customers to more freely spend and move their money.”
“Whether paying in the physical or digital world, consumers want to see the familiar Mastercard brand from their chosen
issuer,” said Rama Sridhar, Executive Vice President, Digital and Emerging Partnerships, Asia Pacific, Mastercard. “This
expansion of our partnership with PayPal reinforces our commitment to our cardholders in the region to deliver the
simple, speedy and secure payment experience they’ve come to expect from Mastercard. Furthermore, the agreement provides
a number of joint growth opportunities that will advance Mastercard and PayPal’s shared vision to offer consumers
greater choice and flexibility to pay and move their money.”
Through collaborations with Mastercard bank partners, consumers will be able to seamlessly add Mastercard cards into
PayPal from banking apps. Mastercard will be presented as a clear and equal payment option within the PayPal Wallet,
making it easily identifiable to the consumer when transacting. Customers will also see a familiar digital
representation of their Mastercard from their chosen issuer. Moreover, consumers will be able to choose Mastercard as
their default payment method to allow for quick and easy check-out.
The deal will also give PayPal the opportunity to expand its presence at the point of sale by utilizing tokenization
services from Mastercard. This will allow consumers to use their tokenized Mastercard in their PayPal Wallet to make
in-store purchases at the more than 6.5 million contactless-enabled merchant locations across the globe. In addition,
customers will have the ability move funds to their bank accounts via their Mastercard debit cards in real time across
multiple markets.
The partnership will also bring more choice for merchants, adding Masterpass as a payment option for those that process
payments via Braintree. Merchants that leverage Braintree will be able to easily integrate Masterpass into their
checkout experiences, providing a seamless user experience for their customers.
-ENDS-
About PayPal
Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal (NASDAQ: PYPL) is
committed to democratizing financial services and empowering people and businesses to join and thrive in the global
economy. Our open digital payments platform gives PayPal’s 210 million active account holders the confidence to connect
and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a
combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money,
and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets
around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive
money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25
currencies. *Only applicable where PayPal is available to accept in store payments