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Apple and PayPal joined forces: this is how their digital wallet will work


The application will have cash back and reward functions when making purchases with this payment method.  (Sebastian Kahnert/dpa)
The application will have cash back and reward functions when making purchases with this payment method. (Sebastian Kahnert/dpa)

A new update of Apple Walletthe Cupertino company’s virtual wallet application, will allow users who use PayPal as one of their main payment methods, they can include it in the payment application Manzana. In this way, it is intended that the platform can include the greatest number of billing methods possible and provide more payment options. pay.

Although this added function is recent, the truth is that this new feature in Apple Wallet has been in development since 2022 when PayPal announced that it would soon be in the Apple application.

“Holders of credit or debit cards PayPal and Venmo can make payments quickly and securely in-store, online, or in their favorite apps using Apple Pay“, indicated the company in the official statement with which the launch was announced.

In addition, it was indicated that the users of this platform will have benefits such as return of money when making purchases, in addition to rewards in the event that some selected items are purchased.

Users can request a loan within the application "Wallet" "no impact on credit".. (Screenshot, Apple)
Users can request a loan within the “Wallet” application “with no impact on credit”.. (Screenshot, Apple)

At the moment this new function will be launched progressively and in principle will only be applicable for the PayPal, but not for Venmo cards, a similar payment platform. This feature will come to Apple Wallet as the weeks and even months go by, but no particular date has been set for it.

“Users will be able to add an eligible PayPal credit to Apple Wallet just by carrying out the steps indicated in the application PayPay”, it is stated. The payment application also added that in the following months the option to enter a Venmo debit or credit card will be added, also following the instructions of any of the platforms.

At the moment this function will only be available for users of these platforms in USAalthough over time this could change and expand to have coverage in different territories as functions are added to the application.

With the arrival of PayPal and the platform Venmo to Apple Wallet, companies are also challenged to improve security features to validate payments made for these products. However, this would already be covered because during an event of the “World Wide Web Consortium” new protection measures were announced for online payments.

The Wallet app is on the iPhone so that credit and debit cards can be stored safely and in one place.  (Manzana)
The Wallet app is on the iPhone so that credit and debit cards can be stored safely and in one place. (Manzana)

This is not an additional application but a feature available within Apple Wallet which allows loans of between $50 and $1,000 to be made that can be paid in installments, so that product purchases can be made and payment is made in interest-free installments.

With this feature, users can apply for a loan within the application “Wallet” “no impact on credit,” but loan and payment history “may be reported to credit bureaus.”

Once approved for a loan, users will begin to see the “Pay Later” option when checking out in apps and online at the iPhone and the iPad.

Apple indicates that users will be able to view and manage loans within the Wallet app and will receive notifications when payments are due.

The “Pay Later” program is administered by a new subsidiary, Apple Financing LLC, which “is responsible for credit evaluation and loans,” the company said. However, it partnered with BNPL’s “Mastercard Installments” program to enable “Apple Pay Later,” while Goldman is the issuer of Mastercard payment credentials.



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