Visa and PayPal are bringing their digital and mobile payment collaboration to Canada.
The two companies have already collaborated in the U.S., Asia and Europe. The main benefit of the partnership is a smooth experience when paying with Visa at places that accept PayPal. Through partnerships with banks and PayPal, customers can also add Visa cards into their PayPal wallets.
“By working together, we will be able to bring more innovative products and enhance payment experiences online, in-app and in store for our joint customers,” said Stacey Madge, country manager and president of Visa Canada, in a press statement.
Additionally, the collaboration will allow customers to use Visa Direct, the company’s money transfer system, to move funds from their PayPal account to eligible Visa debit cards in real-time.
On top of this, Visa and PayPal will be expanding participation in the Visa Digital Enablement Program (VDEP). The program is a token technology that launched in 2015. It takes the existing 16 digit number on your credit or debit card and replaces it with a digital token used in contactless payments. The expansion will help bring the use of PayPal to businesses that accept Visa in physical locations.
“We are delighted to collaborate and drive greater value for our 6.5 million customers in Canada by offering them more choice in how and where they pay,” said Paul Parisi, president of PayPal Canada.