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."