PayPal becomes a partner of MasterCard One Credential

Online payment giant PayPal has just announced a new partnership with MatsterCard. This rapprochement should enable it to adopt a technological tool recently proposed by the American Scheme, called One Credential. His promise to centralize payment solutions is therefore also of great interest to PayPal.

FACTS

• MasterCard and PayPal will now co-develop new features around the One Credential solution that promises to diversify payment choices during cash, online or in-store.

• As a reminder, One Credential is a unified payment platform that brings together a variety of payment methods, such as debit, credit, prepaid and payment options in multiple times. This allows users of the service to view and centralize all their payment methods, then customize their usage preferences according to the type of transaction and the amount.

• In store, it is a MasterCard card or a mobile payment solution associated with One Credential that can be used to access the service.

• Consumers can, through One Credential, use a single identifier to access the platform and thus all their means of payment.

• Launched by MasterCard last February, One Credential now gains a weight partner with PayPal.

ISSUES

• Centralize for better rule : Rather than constantly fighting against all other alternative players able to offer payment solutions, MasterCard, with One Credential, seeks to master the customer relationship and position itself as the leading player, the trusted third party to help customers access the different services.

• A strong alliance : By counting PayPal among its supporters on this project, MasterCard gains a strong partner and can justify the interest of its offer and the realism of its promise of centralization. Wio Bank, Episode Six, Galileo Financial Technologies, i2c, Lithic or even Marqeta were presented as the first partners of One Credential. PayPal's involvement today wants to underline its relevance.

PERSPECTIVE

• MasterCard highlights results a recent study of consumer expectations, and of generation Z in particular, for payments. The latter are thus more attracted to customizable, digital and flexible solutions.

• One Credential also presents itself as a more advanced solution than card aggregators such as Curve It also aims to unify digital identification and online payment options.

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate