FIS, a financial services technology firm, and PayPal have teamed up to boost customer engagement and drive incremental digital spend through FIS’ banking partners.
The partnership will help enable consumers who bank with FIS clients to link a payment card or other financial account to a new or existing PayPal account, and display the financial institution’s brand within PayPal.
Additionally, the partnership will enable those financial institution customers to set their default funding source in PayPal, which will ultimately boost their overall digital spend.
FIS COO for banking and payments Anthony Jabbour said: “By enabling the bank branding within the checkout process with PayPal through account linking, a financial institution can remind its customers of the ease with which they can shop, and make them more likely to use that particular account and to increase spend. It’s a win for consumers and financial institutions, alike.”
Avidia Bank and the 15 chartered banks of Wintrust Financial, two FIS clients, will start account linking in the first quarter of 2017. The service will be available to all FIS clients during the first half of 2017.