According to a press release, the companies will collaborate on several solutions for joint customers such as the use of Amex rewards program points, as well as explore additional innovative digital products and experiences. The new features will be implemented over the course of 2019.
“This partnership is the product of our companies’ strong commitment to create innovative payment experiences that utilize both organizations’ core assets, including the ability for customers to pay with American Express Membership Rewards points and the integration of peer-to-peer payments into the Amex app,” said Dan Schulman, president and CEO, PayPal. “Our new partnership expands PayPal’s ubiquity, and enables us to offer consumers and merchants new and innovative product experiences. We are pleased to partner with American Express as it is a clear demonstration of positive innovation for our customers that is made possible through partnership.”
Through the partnership, American Express Card Members in the U.S. will be able to use Membership Rewards points for purchases at millions of PayPal merchants online; send money via Venmo or PayPal directly from the Amex mobile app; add American Express Cards to the PayPal wallet directly from the Amex mobile app or website; pay their American Express bill with their PayPal or Venmo balance via the PayPal Instant Transfer feature; and be able to clearly identify their specific American Express Cards in the PayPal wallet through card-specific branding.
“Together we will streamline and expand the online and mobile payments experience for our card members, helping us become a more essential part of their digital lives,” said Stephen J. Squeri, chairman and CEO, American Express. “This strategic partnership with PayPal will open up the use of membership rewards points at more small and medium-sized businesses than ever and make peer-to-peer payments more seamless for card members.”