Synchrony Financial, a consumer financial services firm, has signed a long-term extension of relationship with PayPal to offer a co-branded dual card credit program for consumers in the US and Puerto Rico.
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The new agreement builds on an existing alliance between the two parties since 2004, under which Synchrony Financial is responsible for offering PayPal credit card programs that allow digital and mobile payments on behalf of qualifying cardholders with online and offline merchants.
Consumers are able to apply online for the PayPal Extras MasterCard or the eBay MasterCard. The chip-enabled PayPal Extras MasterCard as well as eBay MasterCard account are issued by Synchrony Bank, and do not charge any annual fee.
Cardholders of PayPal Extras and eBay MasterCard are automatically enrolled in program rewards as well as can earn points for purchases. They can build rewards faster for every dollar spent on eBay and PayPal, and at gas stations and restaurants.
In addition, all accounts are automatically integrated with the PayPal Wallet, which offers access to various applications and tools that simplify checkout and offer special financing options for shoppers with participating merchants.
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By GlobalDataSynchrony Financial Retail Cards executive vice president and CEO Tom Quindlen said: "We are pleased to deepen our relationship with these dynamic businesses and continue to meet the evolving needs of PayPal and eBay cardholders for convenient and safe payment solutions and valuable rewards.
"PayPal is at the forefront of digital payments and we look forward to building on our decade of adding greater value and simplicity to cardholder transactions."
