fyi: PayPal and Providian Part

Discussion in 'Credit Talk' started by John Shimm, Feb 6, 2001.

  1. John Shimm

    John Shimm Guest

    From ZDNet News:

    Feb 6, 2001 4:31 PM PT
    PayPal partners with credit card issuer
    Online payment service PayPal announced Tuesday that it has struck a partnership with Providian Financial, a sign that the traditional banking company intends to grab a share of the fledgling e-mail payment sector.
    Under the terms of the agreement, Providian will take a minority stake in privately held PayPal. It has agreed to create a co-branded credit card that will be offered to PayPal customers. Providian, the fifth-largest issuer of credit cards in the United States, also has the option of launching a Web-based money-transferring system that PayPal would operate. The companies said they hoped to unveil the co-branded card sometime this spring.

    Both companies declined to discuss the size of Providian's investment in Palo Alto, Calif.-based PayPal, but sources close to the deal said the share is less than 10 percent. --Greg Sandoval, Special to ZDNet News
  2. sam

    sam Well-Known Member

    Wow. they should call the card

  3. dogman

    dogman Well-Known Member

    RE: Wow. they should call the

    Don't you friggin love it?
    You can bet if anybody had an old Titanium Card, Providian would cancel and replace it with a secured classic - with no grace period and 30% interest.

Share This Page