If you have a PayPal debit or credit card, starting today you can add them to your Apple Wallet app where they can be selected for use with the Apple Pay mobile payment service. There are two ways that you can accomplish this. Number one, you can open the iOS PayPal app and find the banner on the app’s homepage that screams, “Pay with your iPhone.” Tapping this will take you to the Apple Wallet app from where you can add your PayPal debit or credit cards.
The second way to add your PayPal cards to your Apple Wallet is to open the app and press the plus icon in the upper right corner of the display. Follow the directions to add your PayPal credit card, debit card, or both to your Wallet app. Once listed in the app, you can choose either one to handle the transactions that you pay using Apple Pay. Once again, we would like to inform you that Apple keeps .15% of the value of each transaction which means that the tech giant keeps 15 cents out of every $100 rung up using Apple Pay.
Venmo, which PayPal owns, is also supposed to add Apple Pay support to its Venmo credit and debit cards although this has yet to occur. All of this is taking place as Apple recently started a promotion for its Apple Pay service by releasing two 30-second videos and two shorter 15-second versions of the same ads.
According to one analyst, Apple could generate as much as $4 billion in revenue from Apple Pay this year. Last month we told you that Apple Pay is the fifth-most widely used payment method worldwide after PayPal, Visa, Mastercard, and American Express.
PayPal’s move to support Apple Pay was belated, especially compared to all of the other banking and financial services cards that have added Apple Pay support over the years. Perhaps, as the number one method of payment globally, the company was skeptical about how its business could be improved by allowing the cards to be used with Apple Pay. It’s fair to say that with today’s announcement, whatever concern was stopping PayPal from adding Apple Pay support in the past has now been overcome.
