PayPal adds partnerships with Citi, FIS
Dec. 15, 2016
PayPal has announced separate deals with Citi and Fidelity National Information Services as extensions of partnerships the company recent signed with Visa and MasterCard.
Details of the Citi agreement:
- Citi will be a launch partner with PayPal to enable Citi cardholders to use their card through PayPal at a point of sale where Visa or MasterCard contactless payment is accepted;
- PayPal and Citi customers will see a familiar digital representation of their Citi-issued card in the PayPal Wallet when they pay, assuring them that payments made through PayPal are conducted with a familiar card and protected with the same safety and security measures that they have come to expect; and
- Citi and PayPal have agreed to partner to drive incremental digital spend for joint PayPal and Citi customers, and will be rolling out a series of pilots in 2017 — which includes making it more convenient to add their existing cards to PayPal.
Details of the FIS agreement:
- The partnership extends reach to thousands of banks and issuers across the U.S., in turn offering more consumers and merchants better ways to transact;
- PayPal will work with FIS to provide an easier way for thousands of issuers to drive more digital spend among customers using PayPal accounts; and
- FIS will enable PayPal's account linking capability, making it easy for customers of FIS partner banks to add cards and banking instruments to PayPal accounts. Customers also will benefit from improved visibility into balances, as their PayPal account balance will appear directly on partner bank sites.
Topics: Bank / Credit Union, Mobile Payments, Transaction Processing