A unit of The Bancorp Inc. of Wilmington, Del., is working with PayPal Inc. to offer electronic person-to-person payments through its affinity relationships.
The Bancorp Bank also will offer PayPal's Instant Account Creation and Account Funding to its affinity customers in 2012, the $3 billion-asset company said May 1. Instant Account Creation allows customers to open an account for PayPal directly from Bancorp. PayPal is a unit of eBay Inc.
Account Funding allows the bank's customers to use their PayPal funding sources with new Bancorp accounts.
"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," Pete Chiccino, Bancorp executive vice president and chief innovations officer, said in a news release. "We're thrilled about our relationship with PayPal."
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