Synchrony Financial extends PayPal and eBay credit card deal

Source: Synchrony Financial

Synchrony Financial (NYSE: SYF), a premier consumer financial services company with 80 years of retail heritage, today announced a long-term extension of its relationship with PayPal to provide a co-branded Dual Card™ credit program for consumers in the United States and Puerto Rico.

Since 2004, Synchrony Financial has partnered with PayPal to offer credit card programs that enable digital and mobile payments on behalf of qualifying cardholders* with online and offline merchants. Consumers can apply online for the PayPal Extras MasterCard® or the eBay MasterCard®.

“We are pleased to deepen our relationship with these dynamic businesses and continue to meet the evolving needs of PayPal and eBay cardholders for convenient and safe payment solutions and valuable rewards,” said Tom Quindlen, executive vice president and CEO, Retail Cards, Synchrony Financial. “PayPal is at the forefront of digital payments and we look forward to building on our decade of adding greater value and simplicity to cardholder transactions.”

In addition to exclusive offers, PayPal Extras and eBay MasterCard cardholders are automatically enrolled in program rewards and can earn points for purchases, including the opportunity to build rewards faster for every dollar spent on eBay and PayPal, and at gas stations and restaurants. For added convenience, all accounts are automatically integrated with the PayPal Wallet, which provides access to a suite of applications and tools that simplify checkout and include available special financing options for shoppers with participating merchants.

“The PayPal credit card program helps to drive sales for merchants and adds greater purchasing power and rewards for customers,” said Steve Allocca, Vice President and General Manager, PayPal Credit. “Synchrony has a deep understanding of the industry and shares our customer focus and commitment to payments innovation.”

Synchrony Financial works with retailers to provide credit and loyalty programs and account management solutions for their customers. The PayPal Smart Connect account is issued by Synchrony Bank. Each chip-enabled PayPal Extras MasterCard® and eBay MasterCard® account has no annual fee, and is issued by Synchrony Bank pursuant to a license by MasterCard International Incorporated.

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