PayPal and Visa have struck a deal enabling the online payments service to issue debit cards in Europe.
It’s an extension of the two companies’ collaboration in the US and Asia-Pacific.
PayPal already has a banking licence in Europe and offers pre-paid cards with Mastercard in some countries such as Italy.
The move to expand its service to PayPal-branded Visa debit cards could appeal to small businesses or to customers who use the online service and want to extend it to card spending.
The deal will give PayPal users access to Visa’s contactless points in European stores.
Card companies have been coming under pressure from the rise of PayPal whose users bypass the card network.
Visa and PayPal partnership promises simpler cross-channel payments https://t.co/esvSykqb4y— InternetRetailing (@etail) July 18, 2017
PayPal in deal with Visa to offer debit cards in Europe https://t.co/oQ3g1QFjyS— Financial Times (@FinancialTimes) July 18, 2017