The news: Mastercard and PayPal have co-developed features on One Credential so shoppers can access multiple payment options through a single credential.

What this means: One Credential will let PayPal users access their various funding mechanisms through a single card credential. This could include everything from PayPal and Venmo’s credit and debit cards to Pay Later and PayPal Credit. 

Users will be able to automate settings for their payments, capping card use/payment style for certain transaction sizes.

Snagging Gen Z: Everyone wants to capture the young adult generation’s dollars. 47% of Gen Zers prefer using new and innovative payment methods, and 65% want to manage everything in one place, according to Mastercard’s 2024 New Payments Index. 

Mastercard One Credential mirrors these generational preferences in its flexibility and centralization.

Our take: Satisfying Gen Z’s desire for convenience and flexibility is a savvy way of ensuring PayPal and Mastercard stay top-of-wallet for young adult consumers. 

By giving users more control while also streamlining the checkout experience, both payment providers demonstrate that crafting products built to consumer preferences is key to capturing everyday spend.

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