PayPal and Visa have announced an extension of their U.S. partnership in the Asia-Pacific region that will see them work collaboratively to accelerate the adoption of secure, reliable and convenient digital and mobile payments for consumers and merchants in markets throughout the region, according to a press release.

The companies said the partnership makes it easier for Visa issuing banks in the Asia-Pacific region to offer their cardholders the ability to checkout anywhere PayPal is accepted online. It also expands the use of PayPal to retailers that accept Visa in physical locations.

The agreement is an extension of the strategic partnership between PayPal and Visa in the U.S., announced in July 2010 and provides joint growth opportunities based on the following:

• Customer choice — PayPal and Visa will create a more seamless experience for consumers who choose to pay with their Visa card at retailers that accept PayPal. Through collaboration with Visa bank partners, consumers will be able to easily add Visa cards to PayPal from other banking apps.
• Digital collaboration — Visa and PayPal will extend participation in the Visa Digital Enablement Program. The program provides Visa partners with access to tokenization technology, which enables payment on mobile phones or any connected device. This will expand the use of PayPal to retailers that accept Visa in physical locations.
• Joint service propositions for emerging markets — PayPal and Visa will work together to expand access to enable the use of electronic payments in emerging markets in the Asia-Pacific region.
• Easier and faster access to funds — Visa will provide the option for PayPal to leverage Visa Direct (Visa's push payments solution), allowing PayPal customers to move funds to their Visa accounts in real time across multiple markets.