Mastercard and PayPal joined forces to develop features using Mastercard’s One Credential, a solution that allows consumers to use a single identifier for both online and in-store purchases.
The companies aim to empower consumers with greater choice and control over their payments at checkout, enabling access to multiple payment options. Additionally, One Credential can help PayPal users improve their creditworthiness, facilitating transitions from debit to installments and other structured credit solutions.
Chris Sweetland, PayPal’s Senior Vice President of Partnerships, stated, “We both want to reduce friction for consumers and bring them more power over how they pay.” Bunita Sawhney, Mastercard’s Chief Consumer Product Officer, emphasized that this partnership builds on “our collective strength of global payments innovation,” adding, “With One Credential, we’re delivering the personalized digital experiences that build consumer confidence and trust.”
Mastercard first introduced One Credential in February, highlighting its ability to let consumers choose payment methods like debit, installments, prepaid, or credit through a digitally connected credential. Users can set preferences online or in an app, even tailoring them by transaction type and time—for instance, specifying their checking account for smaller expenses, a credit card for larger ones, and installments for occasional significant purchases.
Jorn Lambert, Mastercard’s Chief Product Officer, previously noted, “Today’s consumers expect to be in the driver’s seat. That’s what sparked One Credential. It gives people an innovative way to pay that’s truly personalized to them.” Mastercard is now deploying One Credential globally as a network-level capability.
Sawhney also shared in a February interview with PYMNTS that consumers are increasingly demanding diverse payment and financial solutions from their primary banking relationships, seeking tools to become confident money managers with clear visibility and control over their cash flows.
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News Source: Pymnts.com
