The announcement is part of an agreement signed between the two companies, which lets their mobile platforms work together. For American Express, the agreement offers additional options to offload unused loyalty points, while PayPal will grow its imprint with ecommerce merchants through American Express-funded purchases at the point of sale.
According to Digiday, more than 2 million businesses accept Venmo, PayPal working with more than 20 million businesses globally. By letting customers use the points for ecommerce shopping, American Express aims to reduce the number of unused loyalty points at a lower cost.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.