PayPal joins traditional banks in KBC Mobile account aggregation package

PayPal joins traditional banks in KBC Mobile account aggregation package

Belgium's KBC has added PayPal balances and transactional information to its mobile bank account aggregation app.

The inclusion of PayPal, alongside Argenta, Belfius, BNP Paribas Fortis and ING, reflects the great strides the company has made in insinuating itself into people's everyday shopping and payments habits.

KBC was the first bank in Belgium to incorporate third party bank accounts to its mobile app, enabling customers to view balances, check transaction history and make payments from the account. Since launching the service in 2018, up to 15,000 customers have used the facility to link to at least one account from another bank.

KBC says the move to add PayPal followed a consultation with customers in which one-third of users said they would like to check their PayPal accounts via KBC Mobile. Within two days, over 5000 customers had synched up their Paypal account within the banking app.

Karin Van Hoecke, director of the Digital Transformation Division Belgium KBC, says: "Consulting and using all financial data in one app is a clear question from our customer and the integration of PayPal shows that we look beyond the traditional accounts. Customers can now not only follow the purchases they bought with the familiar KBC or Bancontact payment button, they can now also follow up on their PayPal account.

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