Mastercard and PayPal partner to target Gen Z customers

Speaking at Money 20/20 Europe in Amsterdam, Bunita Sawhney, chief consumer product officer at Mastercard said the launch of ‘Mastercard One Credential’ was driven by a shift in customer expectations, led by digitally native younger consumers.

She noted that younger customers are seeking greater flexibility in how they pay. For example, they are using a debit card for everyday purchases like coffee or lunch, a credit card for bigger spends like concert tickets, and buy now, pay later for discretionary items such as flights.

But as digital natives, they also expect a seamless, digital-first experience that doesn’t require juggling multiple physical cards. Therefore, Mastercard One Credential is designed to meet these expectations with a single, streamlined digital solution.

Sawhney said: “One Credential allows the consumer to be in the driver’s seat. Whether it’s debit or credit, prepaid or buy now, pay later, it really affects their payment of choice in a more seamless and secure way.”

She added that engaging the younger generation is a powerful way to build lifelong loyalty, as Gen Z is only just beginning their financial journey.

Many younger customers currently favour debit options, but as they reach key life stages, they will need access to more committed forms of credit such as a traditional credit card or another structured solution, according to Sawhney.

By establishing a relationship early, Mastercard increases the likelihood that these customers will stay with them as their financial needs evolve, she said.

She said: “One Credential allows us to set you up for success from day one, so that the options are available to you as and when you need them over time.”