CURRENT AFFAIRS

Detailed explanation-1: -“We’re excited to extend our long standing partnership with Mastercard into Asia Pacific, ” said Rohan Mahadevan, Chief Executive Officer, PayPal Pte Ltd and Senior Vice President, APAC, PayPal Inc.

Detailed explanation-2: -With over 400 million active user accounts worldwide, PayPal is a leading digital payments service provider for cross-border e-commerce enterprises in all big six Southeast Asian countries.

Detailed explanation-3: -Established in 1998 as Confinity, PayPal went public through an IPO in 2002. It became a wholly owned subsidiary of eBay later that year, valued at $1.5 billion.

Detailed explanation-4: -PayPal Holdings Inc (PayPal) is a technology platform and digital payments company. It provides technology and payment solutions that facilitate mobile, in-app, and online payments for merchants and consumers.

Detailed explanation-5: -Consumers will be able to instantly withdraw and move money from their PayPal and Venmo accounts to their bank account via their Visa debit cards leveraging Visa Direct-providing an experience that offers speed, security and convenience.