Visa And PayPal Extend Their Partnership To Europe

Visa Inc. and PayPal Holdings Inc. said Tuesday they are extending their U.S. and Asia partnership to Europe. PayPal will use its banking license in Europe to join the Visa network of financial institutions and offer Visa accounts in Europe for consumers to use wherever Visa is accepted around the world. PayPal will also have access to the Visa Digital Enablement Program, which provides partners with access to tokenisation technology, to make secure payment on mobile phones or other connected devices. Visa shares were up 0.3% in early trade, while PayPal was up 1%. The S&P 500 was flat.