JPMorgan Chase and PayPal, two global payments leaders, have announced a partnership that will make it easy to add Chase cards via Chase Pay to PayPal accounts, and will soon offer customers the option of paying with Ultimate Rewards points when linked through Chase Pay at PayPal’s millions of online merchants.
In addition, PayPal will have the ability to process payments on ChaseNet, a unique, closed-loop payment network.
“We’re excited to partner with PayPal — both our companies have been innovators in payments and we share a focus on making the payment experience simpler for our customers and merchants,” said Gordon Smith, CEO of Consumer & Community Banking at Chase.
Highlights of the partnership:
- Chase customers will be able to seamlessly link their Chase cards via Chase Pay to their PayPal Wallet and have the option to pay with Ultimate Rewards points when linked through Chase Pay at PayPal’s millions of online merchants
- Chase and PayPal will make it easy for PayPal customers to link their Chase cards to their PayPal account
- J.P. Morgan will process Chase card payments from PayPal via ChaseNet
- Chase cardholders will be able to use their PayPal account in store through the PayPal mobile wallet
- Braintree will make Chase Pay available as a payment method for its merchants to integrate into their checkout experiences
- A pipeline of future payments innovations will benefit approximately 94 million credit, debit and pre-paid card accounts, and four million businesses Chase serves
“This partnership is about deepening our relationship and leveraging each other’s core assets to deliver simple, secure and truly transformative payment experiences for our joint customers,” said Dan Schulman, PayPal’s CEO. “Our deep platform integration will add tremendous value to consumers who can now use PayPal and Chase products in more places, but also create new payment methods that will allow consumers to have more spending power at our millions of merchant locations online, in app and in store.”