PayPal expands JPMorgan Chase partnership
Written by Chris Lemmon
PayPal has expanded its relationship with JPMorgan Chase in a move designed to drive more choice, flexibility and value in the payments space for joint customers of the two firms.
The new terms of the agreement enable PayPal to further expand its reach in-store, enable Chase-issued cards to be easily added to newly created or existing PayPal accounts and will allow joint customers to use their Chase Ultimate Rewards Points anywhere PayPal is accepted online and in-app.
In addition, Chase Pay will become a way to fill the PayPal Wallet with Chase-issued cards and Braintree will add Chase Pay as a method of payment for its merchants. The new features are expected to go live for customers in 2018.
Dan Schulman, president and CEO of PayPal, commented: “This expanded relationship comes on the heels of our recent partnerships with bank issuers like Citi, networks like Visa – in the US, APAC and now Europe – and Mastercard, financial institutions like Wells Fargo and Discover, financial services technology providers like FIS and First Data, and technology leaders like Apple, Facebook, Google and Samsung.
“These partnerships are just a few examples of how PayPal is continuing to work with leaders in the industry to enable more choice, flexibility and transparency for our customers. We will continue to forge new collaborations with players across the industry that share our values of making digital payments and the management and movement of money more seamless and secure.”