Visa and PayPal have announced an extension of their strategic partnership to Canada that will see them work collaboratively to accelerate the adoption of secure, reliable and convenient digital and mobile payments in the country. The two companies are already collaborating in the US, Asia Pacific and Europe.
The partnership is designed to create a seamless experience for customers who choose to pay with a Visa card at places that accept PayPal. Through collaboration between bank partners and PayPal, customers will be able to add Visa cards into the PayPal digital wallet from other banking apps.
It also enables PayPal to leverage Visa Direct (Visa's real-time payments solution), which allows Visa cardholders to more easily move funds from their PayPal account to an eligible Visa debit card in real-time.
In addition, Visa and PayPal have agreed to extend participation in the Visa Digital Enablement Program (VDEP). VDEP provides Visa's partners with access to tokenisation technology, which enables simple and secure payment on mobile phones or any connected device. This will help expand the use of PayPal to businesses that accept Visa in physical locations.