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Press release content from Business Wire. The AP news staff was not involved in its creation.

Discover and PayPal™ Collaboration Gives Cardmembers New Way to Redeem Rewards

November 25, 2019

RIVERWOODS, Ill.--(BUSINESS WIRE)--Nov 25, 2019--

Discover cardmembers can now use their Cashback Bonus® or Miles to pay for purchases at millions of online stores through PayPal, giving cardmembers another convenient and flexible way to reward themselves.

“We want to make it as easy as possible for our cardmembers to redeem their rewards, especially by partnering with merchants where our Discover cardmembers love to shop,” said Shannon Kors, vice president of card rewards and benefits at Discover. “Our customers loved seeing PayPal added to this year’s categories in the 5% Cashback program. Now they can spend the rewards they earned with PayPal and have more choices when they pay.”

All eligible 1 Discover cardmembers can easily pay with their Cashback Bonus or Miles using PayPal when they shop online and in apps 2. Once cardmembers link their Discover card with PayPal, they can instantly redeem any amount of their rewards on eligible purchases at checkout.

This latest feature stems from an ongoing collaboration between Discover and PayPal to give Discover cardmembers a rich suite of benefits and experiences with PayPal. These benefits include enabling cardmembers to easily link their Discover card to their PayPal wallet from Discover’s app and website which were recognized by J.D. Power as the best in customer satisfaction among mobile credit card apps and credit card websites. Once linked, cardmembers can enjoy the convenience and security of checking out with PayPal while shopping at millions of merchants online.

Discover also will provide yet another opportunity for cardmembers to earn rewards through their partnership with PayPal in 2020. Starting July and running through August 2020, Discover it ® and Discover More ® cardmembers can earn 5% cash back on up to $1,500 in purchases when they shop at PayPal and restaurants if activated. 3

To pay with rewards through PayPal, cardmembers need to link their Discover card with their PayPal accounts. Cardmembers can also enroll by creating a PayPal account through their Discover account.

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.

About PayPal

PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 286 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.

1 Discover it, Discover it ® Miles, Discover it ® Chrome and Discover More ® Cardmembers are eligible for the PayPal Pay with Rewards program.
2 You may not see Pay with Rewards every time you check out. Not currently available for sending money, recurring payments, and in-store transactions.
3 For full program details visit: discover.com/5.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191125005161/en/

CONTACT: Media Contact

Jennifer Delgado

224-405-1484

jenniferdelgado@discover.com

@Discover_News

KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Discover Financial Services

Copyright Business Wire 2019.

PUB: 11/25/2019 06:00 AM/DISC: 11/25/2019 06:00 AM

http://www.businesswire.com/news/home/20191125005161/en