News

Citi and Paypal expand their partnership

Tuesday 17 December 2019 13:35 CET | News

Citi and Paypal have expanded their partnership to increase payments choices, this time enabling Citi’s business clients to make payments into their customers’ Paypal digital wallets.

The two companies’ strategic agreement would now enable Citi’s institutional clients to pay directly into Paypal digital wallets using Citi’s WorldLink cross-border payments platform.

Starting in Q1 2020, Citi clients’ ability to make payments into Paypal wallets will be expanded globally to more than 200 markets.

Back in 2016, Citi entered a strategic agreement with Paypal to allow card members to use their cards with Paypal seamlessly: in-store, online, and in-app. The agreement also included a plan to tokenise cards for customers wishing to use Paypal for in-store purchases, across Mastercard and Visa portfolios in the US.

In 2017, the two companies announced an expansion of their strategic agreement to enable eligible Citi card members to use their ThankYou Points to pay for all or part of purchases when shopping online at millions of merchants that accept Paypal in the US. The functionalities were launched in 2018.


Source: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Citi, PayPal, partnership, cross-border payments
Categories: Banking & Fintech
Companies:
Countries: World
This article is part of category

Banking & Fintech






Industry Events