Credit: Mastercard's Facebook page
E-commerce companies in Asia Pacific that leverage Braintree - a subsidiary of PayPal that provides digital payment systems - can now offer Mastercard's digital wallet, Masterpass, as a payment option to their customers.
This follows PayPal's move to expand its partnership with Mastercard.
The partnership also enables business owners to cash out their funds in PayPal to a Mastercard debit card. Previously, merchants are only allowed to cash out into the bank account linked to their PayPal account.
In addition, PayPal will leverage Mastercard's tokenisation solution to expand their presence at point-of-sale (POS) systems. As such, consumers will be able to use their tokenised Mastercard in their PayPal wallet to make in-store purchases at more than 6.5 million contactless-enable stores worldwide.
"Our partnership will continue to drive innovation, accelerate the move to digital payments, and improve payment experiences for our mutual customers in the region," said Rohan Mahadevan, CEO of PayPal Pte Ltd and senior vice president of PayPal in APAC.
Rama Sridhar, Executive Vice President, Digital and Emerging Partnerships, Asia Pacific, Mastercard, added: "[This collaboration] 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."
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