PayPal and American Express are expanding their partnership, a sign of the growing popularity of peer-to-peer payment services.
As part of the expansion, American Express payments can be made with Venmo or PayPal, and members will be able to use rewards points for PayPal purchases.
Here’s what AmEx cardholders need to know about the changes:
- Changes may take a while to occur. All new features are expected to be implemented by the end of 2019.
- Online purchase security will be amped up. The American Express Token Service, which disguises card numbers for online purchases, will be integrated into the PayPal site.
- Sending money to friends via PayPal and Venmo will be integrated into the AmEx app. You can essentially charge your AmEx card when reimbursing your friends and family for a purchase.
- You might be able to use your AmEx card and rewards with vendors that didn’t accept them before. With the millions of vendors that allow PayPal for payment, AmEx cards and rewards become a lot more versatile.
- AmEx cards can be added to PayPal wallet through the AmEx site and app. Cards will have AmEx-specific branding within PayPal wallet for easy identification.
- The new process adds the ability to pay American Express bills with PayPal and Venmo accounts. This feature could be especially beneficial for freelancers, small businesses or even those who are collecting sales on eBay; it helps cardmembers use various incomes to pay their bill.
How to maximize your rewardsYou want a travel credit card that prioritizes what’s important to you. Here are our picks for the best travel credit cards of 2018, including those best for:
- Airline miles and a large bonus: Chase Sapphire Preferred® Card (Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®).
- Flat-rate travel rewards: Capital One® Venture® Rewards Credit Card (Earn unlimited 2 miles per dollar on every purchase).
- Premium travel rewards: Chase Sapphire Reserve® (Get 3 points per dollar on travel and dining at restaurants worldwide and 1 point per dollar on all other purchases).
- No annual fee: Bank of America® Travel Rewards credit card (Earn unlimited 1.5 points per dollar spent on all purchases, with no annual fee).
- Luxury perks: The Platinum Card® from American Express (Get 5 points per dollar on flights booked directly with airlines or through American Express Travel, plus get access to the Global Lounge Collection). Terms Apply.
Check out these articles for more inspiration and advice:
The best American Express credit cards of 2018
11 ways to send money that make sense for you
The easiest ways to send money to your college student