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Visa's Alliance Aids PayPal to Offer Debit Cards in Europe
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Visa Inc. (V - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) have entered into a mutual agreement pursuant to which the latter will be able to issue PayPal-branded Visa debit cards in Europe.
PayPal already had a banking license in Europe and this deal will help it foray into the region’s debit card market.
Consumers and merchants will be benefited by this alliance as the joint service should make their digital and mobile payments options secure, reliable and convenient digital.
This partnership will make it easier for financial institutions to offer their Visa account holders the ability to checkout anywhere PayPal is accepted online. The agreement should result in "more spending volume" on Visa cards.
The partnership also includes the participation of Visa Digital Enablement Program (VDEP) in Europe. Visa’s VDEP service makes use of tokenization that simplifies and secures transactions.
PayPal will also be able to leverage on the Visa Direct service, which is quick, safe, affordable and the easiest way to send and receive money. This service will enable PayPal users to move funds to their Visa accounts in real time across multiple markets.
Visa has been busy forming numerous pacts and alliances that have beefed up its business volumes. The company’s strong performance is also reflected in its share price which has added 24%, compared with the 22% gain for the Zacks categorized Financial Transaction Services industry, since it first joined forces with PayPal last July.
Visa and PayPal are treading along quite well since their first partnership to jointly provide payment services in the U.S. The strategic deal put an end to their decade-old friction over online transactions. The deal was a positive development for Visa, as PayPal agreed to stop steering business away from the former.
PayPal has also formed similar alliances with other payment services companies Mastercard Inc. (MA - Free Report) and Discover Financial Services (DFS - Free Report) .
In April, PayPal and Visa entered into another partnership to jointly serve customers in Asia-Pacific. The agreement is an extension of their strategic partnership in the United States and Asia-Pacific.
The deals forged this year don’t come to us as a surprise since the companies already hinted (at the time of first partnership) that they “hope to work out a deal for international transactions as well.” We expect to hear similar deals in the future.
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Visa's Alliance Aids PayPal to Offer Debit Cards in Europe
Visa Inc. (V - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) have entered into a mutual agreement pursuant to which the latter will be able to issue PayPal-branded Visa debit cards in Europe.
PayPal already had a banking license in Europe and this deal will help it foray into the region’s debit card market.
Consumers and merchants will be benefited by this alliance as the joint service should make their digital and mobile payments options secure, reliable and convenient digital.
This partnership will make it easier for financial institutions to offer their Visa account holders the ability to checkout anywhere PayPal is accepted online. The agreement should result in "more spending volume" on Visa cards.
The partnership also includes the participation of Visa Digital Enablement Program (VDEP) in Europe. Visa’s VDEP service makes use of tokenization that simplifies and secures transactions.
PayPal will also be able to leverage on the Visa Direct service, which is quick, safe, affordable and the easiest way to send and receive money. This service will enable PayPal users to move funds to their Visa accounts in real time across multiple markets.
Visa has been busy forming numerous pacts and alliances that have beefed up its business volumes. The company’s strong performance is also reflected in its share price which has added 24%, compared with the 22% gain for the Zacks categorized Financial Transaction Services industry, since it first joined forces with PayPal last July.
Visa and PayPal are treading along quite well since their first partnership to jointly provide payment services in the U.S. The strategic deal put an end to their decade-old friction over online transactions. The deal was a positive development for Visa, as PayPal agreed to stop steering business away from the former.
PayPal has also formed similar alliances with other payment services companies Mastercard Inc. (MA - Free Report) and Discover Financial Services (DFS - Free Report) .
In April, PayPal and Visa entered into another partnership to jointly serve customers in Asia-Pacific. The agreement is an extension of their strategic partnership in the United States and Asia-Pacific.
The deals forged this year don’t come to us as a surprise since the companies already hinted (at the time of first partnership) that they “hope to work out a deal for international transactions as well.” We expect to hear similar deals in the future.
Visa carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>