Providian Joins Forces With PayPal to Issue Co-Branded Credit Card

Share this content:
Providian Financial Corp. and PayPal Inc., an online payment service, plan to issue a co-branded credit card this spring.


Consumers will be able to use the card in all online and offline merchant locations that accept credit cards. PayPal plans to make the card available without membership fees. It is in the process of developing marketing campaigns for the card and would not comment about advertising.


The companies will share revenues associated with each transaction on the card. Spending limits have not been finalized.


"Providian has 16 million customers. In order to build a customer base that large, you must know the credit market very well," said Vince Sollitto, director of communications at PayPal, Palo Alto, CA.


As part of the partnership, which was finalized on Tuesday, Providian has taken an equity stake in PayPal, Sollitto said, declining to specify.


PayPal is a service that lets consumers and businesses send and receive money from bank accounts and other credit cards via the Internet. The 2-year-old company primarily targets online shoppers and frequent online auction participants.


PayPal has roughly 6 million user accounts and adds approximately 20,000 new accounts per day, according to Sollitto.

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above