FIS and PayPal have extended their partnership to enable cardholders from US financial institutions to participate in PayPal’s Pay with Rewards.
Beginning in Q3 2020, cardholders of thousands of financial institutions participating in FIS’ Premium Payback loyalty network will be able to use their eligible card loyalty points to pay for eligible online purchases at PayPal merchants globally.
Cardholders in FIS’ Premium Payback loyalty network will soon be able to link their reward points to their account with PayPal, enabling mutual customers to use their eligible rewards points to pay for purchases via PayPal at their favorite retail brands. The new agreement builds on an existing relationship between FIS and Worldpay for processing card payments for PayPal customers in more than 50 markets worldwide.
Thousands of financial institutions representing more than 7,000 card loyalty programs are enrolled in the FIS Premium Payback ecosystem. When these cardholders use PayPal to pay a merchant online, they will have the option to convert their eligible loyalty point balance to currency as an alternative form of payment.
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