Microsoft Deepens Relationship with PayPal to Offer Simple, Flexible Payment Options

Rhea-AI Summary

PayPal and Microsoft announce integration of PayPal's Pay Later solution in multiple countries, and the option to pay with Venmo in the Microsoft Store in the US. These integrations aim to provide customers with more flexible payment options and increase customer loyalty.

Positive

• Customers will now have the option to pay for purchases evenly over weeks or months with PayPal Pay Later, improving budget management. The integration of Venmo in the Microsoft Store will enable quick and simple checkouts, with the option to purchase subscriptions or split payments upon purchase.

Negative

• None.

SAN JOSE, Calif. and REDMOND, Wash., July 26, 2023 /PRNewswire/ -- PayPal Holdings, Inc. (NASDAQ: PYPL) and Microsoft Corp. (Nasdaq: MSFT), today announced Microsoft's integration of PayPal's Pay Later solution in the U.S., U.K., Australia, Germany, France, Spain, and Italy. In addition, customers in the U.S. will soon have the option to pay with Venmo in the Microsoft Store. Venmo is currently available in the Microsoft Store on Xbox in the U.S. These new integrations offer customers more flexible ways to pay and help increase customer loyalty.

"For over 16 years, PayPal checkout has been a trusted method for Microsoft Store customers to purchase products like Surface devices and Xbox consoles and accessories, as well as Microsoft 365's product suite," said Kurt Campisano, SVP of Strategic Accounts, PayPal. "We are thrilled to expand our partnership with Microsoft to offer them access to our full suite of capabilities that will create a beautiful customer experience across the entire shopping journey."

PayPal Pay Later and Venmo will provide several additional benefits to Microsoft's customers and its business including:

PayPal Pay Later: With PayPal Pay Later, eligible consumers will now be able to pay for their purchases evenly over the course of weeks or months in fixed amounts, providing flexibility in how to pay and helping customers to better manage their budget. 

Pay with Venmo: Venmo's powerful social app will help improve the customer experience by enabling a quick and simple checkout process in the Microsoft Store and Microsoft Store on Xbox*. When consumers pay with Venmo, they'll have the option to purchase subscriptions or split payments upon purchase. 

"At Microsoft, our commitment to creating the best experience for customers is at the center of everything we do, whether it's for entertainment or productivity," said Ajith Thekadath, Vice President of Global Payments, Microsoft. "The addition of new PayPal payment method options delivers on this commitment and offers even more flexibility for customers with tools that work for them and their goals." 

To learn more about using PayPal Pay Later for Microsoft purchases, visit: https://www.microsoft.com/en-us/store/b/paypal

About PayPal
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering hundreds of millions of consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com.

About Microsoft
Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

*Venmo is currently available for purchases in the Microsoft Store on the Xbox in the U.S. and will be available for purchases in the Microsoft Store in the coming months.

Media Relations Contacts
Nikki Ziolo
Nziolo@paypal.com

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SOURCE PayPal Holdings, Inc.; Microsoft Corp.

FAQ

What is the integration announced between PayPal and Microsoft?

PayPal's Pay Later solution will be integrated into Microsoft's platforms in multiple countries, allowing customers to pay for purchases over time. Additionally, Venmo will be available as a payment option in the Microsoft Store in the US.

What benefits does PayPal Pay Later offer to Microsoft's customers and business?

PayPal Pay Later allows eligible consumers to pay for purchases in fixed amounts over weeks or months, providing flexibility in payment options and helping customers manage their budget.

How will Venmo improve the customer experience in the Microsoft Store?

Venmo will enable a quick and simple checkout process in the Microsoft Store, with the option to purchase subscriptions or split payments upon purchase.

Where can I learn more about using PayPal Pay Later for Microsoft purchases?

You can visit the following link for more information: https://www.microsoft.com/en-us/store/b/paypal