PayPal and Venmo Adding Tap to Pay Support on iPhones
PayPal and Apple will begin accepting each other’s products in their separate payment ecosystems.
In early 2023, customers will be able to add PayPal and Venmo credit and debit cards to Apple Wallet, enabling them to use them wherever Apple Pay is accepted. The information comes from Paypal’s third-quarter 2022 earnings results, where the company says it is working with Apple to enhance our offerings for PayPal and Venmo merchants and consumers:
- Leveraging Apple’s Tap to Pay on iPhone technology, U.S. merchant customers will soon be able to accept contactless debit or credit cards and mobile wallets, including Apple Pay, using an iPhone and the PayPal or Venmo iOS app
- Adding Apple Pay as a payment option in PayPal’s unbranded checkout flows on merchant platforms, including the PayPal Commerce Platform
- Next year, U.S. customers will be able to add PayPal and Venmo network-branded credit and debit cards to Apple Wallet and use them anywhere Apple Pay is accepted
We’re very pleased to be working with Apple to enhance our offerings for our PayPal and Venmo merchants and consumers,” PayPal Chief Executive Officer Dan Schulman said in the statement.
For those who aim to maximize credit card rewards, this could be an easy option to use spending offers that require PayPal, such as 5% rotating categories on cards like Discover it and Chase Freedom Flex. However, we’ll have to see who these new features are implemented.