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PayPal taps into your Chase and Citibank accounts

Paypal-owned mobile payment app Venmo opened up third-party app support last year in an attempt to capture more money via more merchant transactions, including those from Poshmark, Parking Panda, and Delivery.com. The service has a competitor, of course, backed by more than 30 major US banks. Zelle promises easy money transfer between the bank’s own apps without having to go through a middleman like Paypal or Facebook Messenger. Two of the banks involved with Zelle, Citibank and Chase, however, have just partnered with Paypal.

With the new deal, you can now add Chase and Citibank-issued cards to your PayPal account and accrue reward points from each bank when you use them via PayPal. Chase Pay becomes another way to fill your PayPal Wallet, while you’ll also be able to use the service to pay Braintree merchants like OpenTable, Uber and TaskRabbit. Chase cardholders are also in line for an upcoming NFC mobile feature using “tokens” in stores.

“Similar to some of our other issuer and bank partnerships, our partnership with Chase will drive more choice, flexibility and value for our joint customers, 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,” said PayPal’s Dan Schulman in a statement.

Source: Paypal, PayPal

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Ms. A. C. Kennedy
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