Citi and PayPal Expand Partnership to Deliver Enhanced Payments Experience
July 20 2017 - 08:59AM
Business Wire
Deal Will Enable Citi Cardmembers to Use
ThankYou Points at PayPal Checkout
Today, Citi and PayPal announced an expansion of their strategic
agreement that will broaden consumer payment choices by enabling
eligible Citi cardmembers 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 United States. This
functionality is slated to launch in 2018.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170720005364/en/
“At Citi, we continuously strive to enable consumers to transact
when they want and how they want,” said Ralph Andretta, Head of
U.S. Branded Cards, Citi. “Our expanded agreement with PayPal will
enable our 14 million ThankYou Rewards members in the U.S. to
utilize an innovative, intuitive new channel to redeem their
points. We also look forward to offering this capability on a
global scale in the near future.”
In 2016, Citi entered into a strategic agreement with PayPal to
enable cardmembers to use their cards with PayPal seamlessly –
online, in-app and in store. The agreement also included a plan to
tokenize cards for customers wishing to use PayPal for in-store
purchases, across Mastercard and Visa portfolios in the U.S.
“This agreement with Citi is about deepening our relationship as
well as creating a deeper platform integration that can add value
to our joint customers,” said Gary Marino, Chief Commercial Officer
at PayPal. “Soon we can offer a new way for Citi cardmembers to
purchase items online with Citi ThankYou Points at millions of our
merchants in the U.S. These new capabilities showcase the power and
flexibility of our technology platforms.”
This announcement follows the introduction of a series of new,
innovative enhancements to Citi’s mobile offerings including the
ability to dispute certain credit card charges, view or download
PDF statements, as well as track the steps of their replacement
credit card delivery in real-time within the Citi Mobile App.
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found
at www.citigroup.com | Twitter: @Citi |
YouTube: www.youtube.com/citi |
Blog: http://blog.citigroup.com |
Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi.
About PayPal
Fueled by a fundamental belief that having access to financial
services creates opportunity, PayPal (Nasdaq:PYPL) is committed to
democratizing financial services and empowering people and
businesses to join and thrive in the global economy. Our open
digital payments platform gives PayPal’s 203 million active account
holders the confidence to connect and transact in new and powerful
ways, whether they are online, on a mobile device, in an app, or in
person. Through a combination of technological innovation and
strategic partnerships, PayPal creates better ways to manage and
move money, and offers choice and flexibility when sending
payments, paying or getting paid. Available in more than 200
markets around the world, the PayPal platform, including Braintree,
Venmo and Xoom, enables consumers and merchants to receive money in
more than 100 currencies, withdraw funds in 56 currencies and hold
balances in their PayPal accounts in 25 currencies. For more
information on PayPal, visit https://www.paypal.com/about. For
PayPal financial information, visit
https://investor.paypalcorp.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170720005364/en/
CitiJennifer Bombardier,
718-248-4652jennifer.bombardier@citi.comorPayPalChris Morse,
914-413-3045cmorse@paypal.com
PayPal (NASDAQ:PYPL)
Historical Stock Chart
From Feb 2024 to Mar 2024
PayPal (NASDAQ:PYPL)
Historical Stock Chart
From Mar 2023 to Mar 2024