PayPal and Visa have extended their collaboration to speed up adoption of digital and mobile payments for consumers and merchants across Asia Pacific.
The latest agreement is the extension of the strategic partnership, which commenced in July 2016 covering only the US.
The partnership, which will improve the payment experience online, in app and in store, will allow Visa’s cardholders to checkout anywhere PayPal is accepted.
Under the partnership, PayPal and Visa will provide seamless experience for consumers who select to pay with their Visa card at retailers that accept PayPal. Through collaboration with Visa bank partners, consumers will be able to easily add Visa cards into PayPal from other banking apps.
Additionally, both firms agreed to extend participation in the Visa Digital Enablement Program (VDEP), which gives Visa's partners with access to tokenisation technology that facilitates payment on mobile phones or any connected device.
Furthermore, the duo will work together to expand access to allows the use of electronic payments in emerging markets in the Asia Pacific region.
Visa will also allow PayPal to leverage Visa's push payments solution, Visa Direct, to move funds to their Visa accounts in real time across multiple markets.
PayPal senior vice president for Asia Pacific region Rohan Mahadevan said: “We could not be more proud of our extended partnership agreement with Visa in the Asia Pacific markets.
“This is a strong signal that our decision to partner in 2016 was the right thing to do for PayPal, Visa and our millions of merchants and consumers in this region. We look forward to partnering with Visa to offer more choice and better experiences together online, in app and in store within Asia Pacific."