20 August 2017
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PayPal strikes deals with Chase and Citi

21 July 2017  |  12950 views  |  0 PayPal logo

PayPal has strengthened its ties to two of America's biggest banks, forming a comprehensive partnership with JPMorgan Chase and a rewards-focussed deal with Citi.

The deal with JPMorgan will mean that Chase customers can add their cards to PayPal directly from Chase properties. In addition, Chase customers will be able to use their cards in their PayPal wallet in-store via NFC.

The deal also means that Chase customers will be able to use their reward points for purchases via PayPal. Meanwhile, Chase Pay will be added as a payment option for merchants that use Braintree and PayPal will be able to process payments on JPMorgan's payment network, ChaseNet.

PayPal struck a similar arrangement with Citi in December and is now expanding that deal to let the bank's ThankYou Rewards cardholders redeem their points at merchants that accept PayPal online and in app.

PayPal president Dan Schulman says the bank tie ups will "drive more choice, flexibility and value for our joint customers" and "enable PayPal to further expand its reach in-store".

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