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EcommerceBytes-NewsFlash, Number 2795 - May 02, 2012 - ISSN 1539-5065    3 of 3

PayPal to Offer P2P Payment Services to Bancorp Bank Clients

By Ina Steiner
May 02, 2012

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In a new partnership, PayPal will provide P2P payment services to The Bancorp Bank's 450 affinity relationships starting in the third quarter. PayPal's Send Money for Financial Institutions allows funds to be sent to people in more than 60 countries with email addresses and more than 10 countries with mobile telephone numbers.

The Bancorp Bank is an FDIC-insured online commercial bank that delivers a full array of financial services and products both directly and through private-label affinity partner programs nationwide.

Bancorp's Executive Vice President and Chief Innovations Officer Pete Chiccino said, "We saw the market opportunity in P2P payment services and the benefits it could bring to our affinity customers and now we have the right partner. We're thrilled about our relationship with PayPal. PayPal shares our philosophy of putting a premium on services that are easy to use, flexible and secure."

P2P payments are the first in a series of collaborations that PayPal and Bancorp will undertake in 2012. More details are available on the PayPal blog.

About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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