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Mastercard partners with PayPal to expand digital commerce in Asia

PayPal Holdings Inc. has partnered with Mastercard Inc. in the Asia-Pacific region to make Mastercard a payment option within PayPal.

The deal will enable Masterpass for Braintree merchants in the region and expand PayPal’s presence at the point of sale. PayPal will allow consumers and small businesses in the region to cash out funds in their PayPal accounts to a Mastercard debit card. Consumers will also be able to add Mastercard cards into PayPal from banking apps.

As part of the deal, Paypal will also be able to utilize tokenization services from Mastercard. Consumers will be able to use their tokenized Mastercard in their PayPal Wallet to make in-store purchases at about 6.5 million contactless-enabled merchant locations across the globe.