PayPal and Discover partner for US payments
Bill Ready, chief operating officer, PayPal
Discover Financial Services and PayPal have signed an agreement making PayPal more widely available to Discover cardmembers, acquirers and merchants.
The agreement provides PayPal with access to Discover’s tokenisation services, so PayPal customers in the US can pay with their Discover cards at all of the contactless-enabled merchants that accept Discover.
As part of the agreement, Discover and PayPal plan to enable PayPal customers with eligible Discover cards to use their Cashback Bonus to pay for purchases at online and mobile merchants that accept PayPal. After enablement, Discover cardmembers will be able to view and use their available Cashback Bonus while using PayPal to pay for all or part of a purchase.
Bill Ready, chief operating officer, PayPal, says: “Discover has been a long-term strategic partner for PayPal, and we expect that collaborative relationship to continue.”
Discover cards will be presented as a clear payment option within the PayPal wallet, making Discover “easily identifiable” to cardmembers when paying.
The pals battalions
PayPal is no stranger to forging partnerships.
Last year, Citi and FIS formed separate agreements with PayPal for Citi cardmembers and FIS linking payment cards.
Also in 2016, PayPal was talking to MasterCard on a potential strategic alliance. PayPal, with its network of 188 million active users, has been expanding at MasterCard’s and Visa’s expense.
