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New partnership with Visa to allow PayPal acceptance at retail locations

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New partnership with Visa to allow PayPal acceptance at retail locations

Under a newly inked partnership will joinVisa Inc.'s digitalenablement program to boost point of sale acceptance.

Under the agreement PayPal's digital wallet will be acceptedat all physical retail locations where Visa contactless transactions areenabled. Consumers will also be able to withdraw and move money from theirPayPal and Venmo accounts to their bank accounts through their Visa debit cardsvia Visa Direct.

PayPal, in turn, will not encourage Visa cardholders to linktheir PayPal accounts to bank accounts via ACH. The company will also work withissuers to find consumers who choose to migrate their ACH payment flows totheir Visa cards.