Typing in your credit card information is so last year.
A new agreement between U.S. Bank and PayPal makes it easier than ever for customers to link their credit cards to the PayPal wallet. Just tap or click. That’s it.
Starting in March, iOS customers will be able to tap to add multiple credit and debit cards to PayPal directly from the U.S. Bank mobile app, with Android and online banking soon to follow. Additional features, such as the ability to pay with rewards points across PayPal’s 24 million global merchants, will be available later this year.
“This agreement with PayPal is important in our digital evolution in payments,” said Steve Mattics, executive vice president of U.S. Bank Retail Payment Solutions. “Customers expect and should be able to use their card where and when they want, smoothly and securely. By having their card in the PayPal wallet, they don’t have to store their information with multiple merchants, which goes a long way in protecting their data.”
Customers will be able to choose the U.S. Bank cards they want to use in the PayPal wallet. This saves the time and hassle of manually keying in a name, account number and expiration date when checking out online or by mobile device – the cards seamlessly appear for fast, secure payment.
Enhancing its digital payment capabilities is part of U.S. Bank’s broader digital transformation strategy to develop new ways to make banking easier, more convenient, and more secure.
“Consumers are increasingly turning to their mobile devices to manage their financial lives,” said Jim Magats, senior vice president of global payments at PayPal. “This partnership will give our joint customers a seamless and secure way to pay for purchases, enabling them to easily link their U.S. Bank cards to their PayPal wallet so they can pay across PayPal’s 24 million global merchants. In addition, the ability to pay with rewards points at PayPal merchants later this year will be another major value add for our joint customers.”
All eligible cards issued by U.S. Bank are included in this agreement with PayPal, including cards issued on behalf of partner brands and other financial institutions through Elan Financial Services.
U.S. Bank is the fifth-largest issuer of credit cards in the United States, as ranked by Visa and Mastercard.
Written by Jennifer Fredrick of U.S. Bank.