PayPal announces integration with Apple Pay

PayPal customers will now be able to add their PayPal and Venmo credit or debit cards to Apple Wallet.

PayPal users will now be able to make payments on their iPhone or Apple Watch.

The company said that starting from Wednesday customers can add their eligible PayPal credit and debit cards to Apple Wallet by following the prompts directly in the PayPal app.

It added that in the coming months, customers will also be able to add a PayPal Business Debit Card, or their Venmo credit or debit cards to Apple Wallet by following the steps in the PayPal or Venmo apps.

PayPal recently partnered with Microsoft to give customers of the tech giant in a number of locations, including the US, UK and Germany, the ability to pay for products in instalments as part of its 'Pay Later' solution.

Eligible customers, also based in Australia, France, Spain, and Italy, are now be able to pay for their purchases over a course of weeks or months in fixed amounts.

In September, European Central Bank (ECB) chief executive Fabio Panetta delivered remarks on the path towards a digital euro and voiced criticism over private providers taking wing in the digital asset class.

With PayPal recently launching a US dollar stablecoin, Panetta said that the company would have “no incentive” to limit take-up of its stablecoins or the range of services they provide.

“While the market entry of BigTechs or other large payment providers may initially promote innovation, competition could be severely hampered if they attain a monopolistic position, as we have seen in other digital sectors,” he explained.

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