Bank of America today announced its customers can now seamlessly add multiple credit and debit cards to their PayPal account directly from the bank’s mobile banking app, making it even easier to shop how, where and when customers choose.
This marks the initial integration from the partnership that was announced in July 2017. Later this year, customers will also be able to add their cards seamlessly within the PayPal experience.
These initiatives are part of Bank of America’s ongoing commitment to deliver innovative payment solutions and choice to the bank’s more than 24 million active mobile users.
"It’s all about providing our customers the most convenient and secure payments experience possible," said Mark Monaco, head of Enterprise Payments at Bank of America. "As the face of money continues to become more digital, Bank of America remains committed to giving our customers the ability to use any major wallet or payment method they choose, including PayPal."
Bank of America’s customers continue to adopt digital payments at record rates. While the percent of mobile wallet transactions is still relatively small compared to more traditional payment methods, transactions doubled over the past year, according to transaction and spending data from over 50 million active Bank of America credit and debit cards.
Bank of America’s digital banking platform is an evolving source of increased customer engagement and satisfaction serving nearly 35 million digital customers, including more than 24 million active mobile users. Its award-winning mobile app was the first to receive J.D. Power’s certification for “An Outstanding Mobile Banking Customer Experience.” During 2017, mobile banking customers logged into their accounts 4.6 billion times, or approximately 190 times per user, and deposited 123 million checks via mobile.
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,500 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 35 million active users, including approximately 24 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Reporters May Contact:
Betty Riess, Bank of America