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PayPal, Apple reach file and accept each other’s products

Starting next year, PayPal and Venmo debit cards will be accepted in the Apple Wallet.

PayPal Holdings Inc. announced that it has reached a truce with Apple Inc. and that the two tech giants will accept each other’s products in their separate payment ecosystems.

Starting next year, PayPal and Venmo debit cards will be accepted in the Apple Wallet, meaning consumers can use them anywhere Apple Pay is accepted, PayPal said in a statement Thursday. PayPal will also add Apple Pay as an option to the company’s checkout offerings.

Previously, PayPal and Venmo cards were not available in Apple’s mobile wallet. PayPal and Apple offer the most widely used mobile wallets in the US and have seen the use of their products explode since the start of the pandemic.

“We are thrilled to be working with Apple to enhance our offering for our PayPal and Venmo merchants and consumers,” PayPal CEO Dan Schulman said in the statement.

PayPal will also use Apple’s new tap-to-pay technology, meaning its merchant customers will no longer need a special dongle to accept debit and credit cards and can instead use the PayPal or Venmo app.

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