PayPal Stories Archive

Today we are excited to announce a strategic agreement with Discover to add value to peoples’ everyday spending and deliver great experiences that customers love. The new agreement will make it easier for PayPal customers to find and choose Discover as a funding option within the PayPal Wallet, and let eligible customers pay with their Discover Cashback Bonus® at all the places that accept PayPal.

 

This new agreement with Discover, a major issuer of credit products in the U.S., is designed to deliver greater choice to our customers. Offering greater customer choice is a key priority for PayPal, which we have advanced through a recent series of strategic partnerships with Visa, Mastercard, Citi, FIS, Facebook, and many others.

 

We expect our joint Discover and PayPal customers will love having access to innovative offerings, like the ability to fund transactions with their Discover Cashback Bonus at the millions of merchants that accept PayPal. U.S. consumers have nearly $50 billion in rewards value [COLLOQUY], offering PayPal an enormous opportunity to unlock the value of these rewards by giving customers easier ways to access them in their PayPal wallet and use them when they shop with PayPal’s 15 million merchant accounts around the world.

 

Additionally, the agreement provides PayPal access to Discover’s tokens, enabling shoppers to use PayPal to make in-store purchases at all Discover contactless-enabled merchants in the U.S.

 

By giving PayPal customers more places to use PayPal wallet and Discover, they have even more convenient and valuable ways to pay with their Discover cards and spend their rewards. We anticipate this agreement may drive incremental spend for both companies.

 

Since 2012, Discover has been a key strategic partner with whom PayPal has collaborated on many opportunities in-store, and we will continue to work closely with Discover to offer their customers choice and value when it comes to payments.