PayPal and Visa expand their partnership

The collaboration expands PayPal’s Instant Transfer service to global markets

Visa PayPal

PayPal and Visa expand their partnership. Source: shutterstock.com

Visa and PayPal have announced the extension of their global partnership. It will boost real-time access to funds for consumers and small businesses sending or receiving funds via PayPal, Venmo, or Xoom.

What is more, PayPal will be able to extend global white label Visa Direct payout services through PayPal and its Braintree, Hyperwallet, and iZettle product solutions.

Sending money to loved ones or giving small businesses real-time access to earnings is critical during these challenging times. By partnering with PayPal on a global scale, we are bringing together two trusted brands to provide hundreds of millions of consumers and small businesses globally with quick and secure payment options that can help them maintain financial stability
Jack Forestell, CPO, Visa

According to data, P2P payments using Visa Direct experienced a nearly 80% rise in transactions in the US during Q3 2020.

We’ve reported that CVS Pharmacy will be the first American retailer to integrate PayPal and Venmo QR code technology in its checkout experience.

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