Global technology platform and digital payments provider has unveiled an extended partnership with two of the largest bank issuers, Chase and Citi.
In addition, PayPal has inked a deal with Samsung Electronics, which will add PayPal as a payment choice within Samsung Pay. The mobile payments company also unveiled a partnership with Apple, which will allow customers to use PayPal to buy items in Apple’s App Store, Apple Music, iTunes and iBooks on all Apple devices.
Numerous benefits for clients of Chase and PayPal
Due to this partnership, Chase customers will be able to seamlessly link Chase cards via Chase Pay to their PayPal Wallet. On the other hand, Chase and PayPal will alleviate for PayPal customers the process of linking their Chase cards to their PayPal account.
On of the main highlights of the partnership is the fact that Chase cardholders will be able t use their PayPal account is store via PayPal mobile wallet.
Meanwhile, through the expanded partnership with PayPal, Citi’s 14 million ThankYou Rewards cardholders will be able to redeem points at merchants that accept PayPal online and in-app.
“This partnership is about deepening our relationship and leveraging each other’s core assets to deliver simple, secure and truly transformative payment experiences for our joint customers. Our deep platform integration will add tremendous value to consumers who can now use PayPal and Chase products in more places, but also create new payment methods that will allow consumers to have more spending power at our millions of merchant locations online, in app and in store,” said Dan Schulman, CEO of PayPal.
Even though J.P. Morgan and PayPal entered into partnership, they still compete in other areas. For example, the bank connected its smartphone apps to a service called Zelle, a direct opponent to PayPal’s Venmo unit.