Mastercard and PayPal partner to increase choice at the checkout
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Unveiled earlier this year, One Credential is a single digitally connected credential that provides consumers and businesses with a multitude of scheduled payment options spanning debit, instalments, prepaid and credit.
Mastercard and PayPal are now co-developing features that tap this technology to offer shoppers multiple, personalised payment options through a single card and a simple digital first experience.
The partners are pitching the move as a way for PayPal users to "build healthier financial habits" by making it easier to move from debit to "structured credit" to build credit worthiness.
The partnership comes in the same week that PayPal tapped Mastercard for its new physical credit card.
'We're excited to empower consumers with more choice and control over how they pay together with PayPal, building on our collective strength of global payments innovation,' says Bunita Sawhney, chief consumer officer, Mastercard.
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