Itaú and PayPal signed an agreement last year and now this partnership will be extended: soon, all customers who have credit cards issued by Itaú Unibanco will be able to link you to PayPal from bank applications.
The standard ritual is like this: the user opens a PayPal account and, at any time, registers his credit cards with the service. After the cards are validated, you can use PayPal to make payments – amounts will be charged for the service on the card bills.
With the partnership, registering with PayPal is easier. Itaucard customers, for example, have been able to register with PayPal for some time now using the card application; for those who already have an account, you can link your credit card to PayPal there quickly.
In addition to Itaucard, some Credicard customers already had access to PayPal. With the expansion of the partnership, the integration will be available to all customers of these cards and will also include the Itaú and Itaú Personnalité applications.
The partnership should help PayPal to expand its customer base in Brazil – today, the service has about 4 million users in the country. For Itaú, which currently controls almost 34 million credit cards, the agreement should allow the use of its payment services to increase in electronic commerce.
For the user, both institutions say that the main advantages of the partnership are the availability of one more payment option and an increase in the percentage of purchase approval, not least because both companies will exchange information.
The partnership should take yet another step: the idea is to allow Itaú debit cards to be integrated with PayPal by the end of the year or, at the latest, in the beginning of 2020.
For those who are not interested, it is worth mentioning that the integration between credit (and debit) cards from Itaú to PayPal is optional.
With information: Mobile Time.