FIS and PayPal have partnered to offer more payment choices to their joint customers. Beginning Q3 2020, consumers with payment cards from financial institutions participating in FIS’ Premium Payback loyalty network can redeem points for payment using PayPal. FIS is the first non-bank payments processor to integrate with PayPal’s Pay with Rewards program—a partnership that will benefit millions of cardholders.
CardLinx member FIS pulled off another strategic win with PayPal. Showcased at CardLinx East, the extended partnership is a great example of how FIS’ vast capabilities with loyalty, merchants and card issuers can deliver unexpected innovation. PayPal gains significant payment share online by funding transactions with billions of dollars’ worth of points currently trapped in bank credit card loyalty programs.
FIS is strengthening its leadership position as the top payments processor in the US by enabling top e-commerce wallet provider PayPal. Already the leader in offline payment card processing for banks and in-store payment card processing for merchants, FIS is now positioned to expand its online reach as well.