Mastercard and PayPal have partnered to provide shoppers with multiple payment options at checkout.

Unveiled earlier this year, Mastercard's One Credential enables customers to use a single credential when shopping online or in-store whilst tailoring their payment preferences. PayPal is now collaborating with Mastercard to develop new features utilising this technology, offering more customers a range of personalised payment options through a single card.

The companies said this will mean shoppers no longer need to juggle between multiple payment methods and cards. Additionally, Mastercard claims that One Credential can help PayPal users build healthier financial habits as they progress from debit to structured credit, such as instalments, on their path to creditworthiness.

According to research by Mastercard, digitally savvy consumers are transforming the payments landscape with demands for greater choice, control and personalisation. Personalised solutions are most popular amongst younger generations.

The announcement extends Mastercard and PayPal's partnership on payment solutions, which includes PayPal Debit Mastercard and PayPal Business Debit Mastercard.

"We're excited to empower consumers with more choice and control over how they pay, together with PayPal, building on our collective strength in global payments innovation," said Bunita Sawhney, chief consumer product officer at Mastercard. "With One Credential, we're delivering the personalised digital experiences that build consumer confidence and trust."

---