Digital Payments

PayPal intensifies its collaboration with Google for digital wallet

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PayPal has deepened its collaboration with social media giant Google and signed a new agreement that enables payments through the tap of a phone from PayPal accounts at thousands of new retail locations.

This partnership will allow PayPal users link their accounts to Android Pay, Google’s digital wallet, on smartphones running most versions of the Android operating system, reported The Economic Times.

This makes PayPal a funding option in Android Pay. PayPal was added as a payment method for Google’s Play app and digital content store almost three years ago.

“This is the next logical step in our desire to partner with everyone in the ecosystem,” said Aunkur Arya, senior vice president at PayPal unit Braintree, which enabled the Android Pay tie-up.

“These partnerships don’t happen unless there’s value for both sides,” he added.

PayPal split from its parent company EBay two years ago, prompting hope that it could be a target of tech companies or financial institutions looking to enter the digital payments industry. PayPal processed $354 billion in payments through 197 million active customers in 2016.

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