Paymentech to Offer eBay's PayPal to Merchants
Paymentech will offer eBay Inc.-owned PayPal's online payment service to its online merchant customers early next year in addition to the electronic checking and gift card options it currently offers.The deal gives online merchants access to a consolidated settlement and financial reporting system without requiring much investment or extra processing infrastructure.
Paymentech, Dallas, is the first merchant acquirer to resell and completely integrate PayPal's online payment service into its processing platform.
Merchants and prospects will have access to 56 million PayPal accounts worldwide.
Paymentech processes 50 percent of all online transactions. The company, and its Canadian affiliate in Toronto, last year processed 7 billion transactions and $162 billion in sales volume in 14 countries.
