Customers of B, the mobile banking app from Clydesdale and Yorkshire Bank (CYBG), will soon be able to link their debit and credit cards to their PayPal account.
Launched as a standalone baking service in 2016, B recently introduced an account aggregation service enabling customers to view accounts they hold with other banks in their B mobile banking app. Moving forward, customers will later this year be able to use the same platform to sync up their plastic cards for paying with PayPal.
Debbie Crosbie, chief operating officer at CYBG, says: “Our partnership with PayPal is another step in CYBG’s journey in enhancing our digital capabilities and delivering a seamless experience for our customers who use the PayPal service. We know the way people access banking products is changing so we are continually looking at new technology and services that can make our customers lives easier. Three months on from the launch of our aggregator service, I am pleased that we are adding more functionality by partnering with PayPal."
News of the agreement comes as Paypal reports another stellar quarter, which saw net income rise to $526 million from $411 million a year earlier. Revenue rose to $3.86 billion from $3.13 billion.
The ongoing positive outlook for PayPal has helped fund a multi-billion acquisition warchest and a push into partnerships with former banking foes, strengthening its profile and expanding its reach from online to offline markets.