Partnering with Discover Financial Services
According to reports, PayPal and Discover Financial Services are to begin integrating PayPal’s payment system into POS terminals which support Discover Card Payments.
Under terms of the agreement, PayPal users will soon be able to make payments at multiple retail locations across the US. They will have access to their PayPal account funds via their personal bank accounts, credit or debit cards or money from other people. Moreover, consumers can set up rules stipulating which accounts they wish to draw from depending on money spent and size of transaction.
By swiping their cards through existing checkout machines and entering their pins, PayPal users will be able to pay at merchants on the Discover Network. A Discover Issuer Identification Number of IIN will be on the newly launched cards to identify the cardholder. IINs for PayPal cards have already been set up on the Discover network.
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