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Citi and PayPal Expand Partnership, Use TYP as Payment Option

DDG
DDG

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Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. Links in this post may provide us with a commission.

Citi and PayPal Expand Partnership, Use TYP as Payment Option

Today, Citi and PayPal announced an expansion of their strategic agreement that will broaden consumer payment choices by enabling eligible Citi cardmembers to use ThankYou Points as a payments option at millions of merchants that accept PayPal in the United States. This new functionality is slated to launch in 2018.

Their original agreement back in 2016, enabled Citi cardmembers to use their cards with PayPal seamlessly – online, in-app and in store. The agreement also included a plan to tokenize cards for customers wishing to use PayPal for in-store purchases, across Mastercard and Visa portfolios in the U.S.

Today’s press release didn’t mention redemption value for ThankYou Points when used through PayPal. But, I contacted Citi and they confirmed that “it will be akin to the rate for other partners such as Amazon”. That means that you’ll be able to redeem ThankYou Points at only 0.8 cents per point. That’s a terrible rate, so please don’t save you points so you can use them through payPal or even Amazon for that matter. You can get 1.25 cents per point when redeeming for travel or you can transfer 1:1 to lots of travel partners. You can even cash out at 1 cents a piece.

Conclusion

While it is always nice to see added versatility to point currencies, using ThankYou Points through PayPal will not be a good idea. It might come in handy if you have a few points left and you just want to cash them out quickly.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
DDG
DDGhttp://dannydealguru.com
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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At Miles to Memories we share the best tips, tricks and deals plus travel rants, musings, hotel, airline and loyalty program reviews and a lot more! Our goal is to help people save money so they can get out there and travel the world! Through our various blog posts, podcasts & videos we teach others how to maximize loyalty rewards, hotel & airline programs and credit cards to achieve amazing things.

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