Clydesdale strikes PayPal partnership

CYBG – owner of Clydesdale Bank, Yorkshire Bank and its digital banking service, B – has announced a strategic partnership with online payment platform PayPal, designed to enhance digital payment options for customers.

The partnership will enable B customers to seamlessly link their debit and credit cards with their PayPal account directly from their B mobile banking app.

The bank successfully launched its account aggregation service in May enabling B customers to view accounts they hold with other banks in their B mobile banking app.

This partnership enables PayPal accounts to be added in the same way. The functionality will offer PayPal services, with customers benefiting from new features that make it even easier to shop where, when and how they choose, leveraging the power and convenience of PayPal’s platform.

The agreement will take effect immediately, with the services expected to be available to CYBG customers later this year.

As part of the new functionality, customer cards can automatically be updated when they reach their expiry date, and payment details will also be automatically updated if a card is lost or stolen. The process of selecting their preferred payment method on PayPal will also be made easier for Clydesdale Bank, Yorkshire Bank and B customers, as they will see a familiar digital representation of their Bank issued cards in the wallet when they pay.

Debbie Crosbie, chief operating officer at CYBG, said: “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.

“We look forward to working with the PayPal team as we enhance the services we can provide to customers.”

Jim Magats, head of payments, product & engineering at PayPal, said: “With more than 24 million active PayPal accounts, the UK represents our biggest market outside of the US. Many of these PayPal customers are also CYBG customers, so it makes complete sense for our two companies to work together to improve our services. We want to enhance the shopping experience online, in-app and in-store, not only for our existing customers, but also new customers. We are looking forward to working closely with CYBG, and bringing new experiences to our joint customers soon.”