Adaptive Payments APIs to Enable Cardmembers to Make Person-to-Person Payments
Innovate 2010-2019 – Discover and PayPal have teamed up to create Money Messenger, a tool that enables customers to use their Discover® cards to pay virtually any person. The offering will enhance the cardmember experience and provide new functionality that empowers them as they make purchasing and payment decisions.
Using the new built-in feature which harnesses PayPal’s new Adaptive Payments APIs, Discover cardmembers can send money to another person via Discoverm or a smart phone using only the recipient’s email address or mobile phone number. Cardmembers will earn Cashback Bonus® on every transaction, which will be treated as a purchase on their Discover account.
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Money Messenger is simple and easy to use because there’s no set up or enrollment required for cardmembers who use the Discover Account Center – the recipient must have a PayPal account or will receive simple instructions on how to open one. There are no fees for Discover cardmembers to use this service.
“The Money Messenger application will provide Discover cardmembers with a unique payment alternative that delivers real value,” said Mike Boush, vice president of E-Business at Discover. “It will simplify person-to-person payments, provide cardmembers with another way to earn rewards, and ensure the recipient gets the funds.”
“Discover’s work is a great example of how third-party developers can use PayPal X to create a new generation of payment options,” said Dan Schatt, PayPal’s general manager of financial innovations. “PayPal X makes it possible for developers to monetize their great ideas by affording them security and connectivity through 27 financial networks and 15,000 local banks.”
Part of the PayPal X platform, the Adaptive Payments API is a set of building blocks that gives developers the tools to create highly customized payment services. The API will change where and how people can make payments, how recipients get compensated, and more.
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 operates the Discover card, America’s cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading ATMdebit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit .discoverfinancialm.
PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 90 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company and is made up of three leading online payment services: the PayPal global payment service, the Payflow Gateway and Bill Me Later. More information about the company can be found at PayPal. PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.