By leveraging each other’s technologies and reach, both companies hope to expand into the region. The partnership will allow consumers and small businesses across Asia Pacific to cash out funds held in their PayPal e-wallet to a Mastercard debit card.
PayPal will add Mastercard as a payment method to their e-wallet and consumers can make it their default payment option. Tokenization services provided by the card company will enable mobile payments using PayPal’s digital wallet at more than 6.5 million contactless-enabled merchant locations across the globe.
The partnership will also add Masterpass as a payment option for merchants that process payments via Braintree.
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