Wells Fargo Announces Support for PayPal Wallet for In-Store Transactions

Wells Fargo press release ------- Wells Fargo & Company (NYSE:WFC) announced today that Wells Fargo customers will soon be able to use PayPal (NASDAQ: PYPL) to conveniently and securely make purchases with their mobile devices at participating merchants whose payment terminals are set up to accept near-field communication (NFC) payments. Currently, Wells Fargo customers can pay for purchases online and on mobile at millions of merchants where PayPal is accepted. This agreement will leverage the companies’ collective mobile leadership, and allow customers to use a Wells Fargo Debit or Credit Card to use PayPal to make NFC payments using an Android phone. “We’re looking to enable payments for our customers’ mobile-driven lives, and this upcoming capability allows us to further engage the millions of Wells Fargo customers who use their debit and credit cards on PayPal to seamlessly make mobile and online, and now in-store, purchases,” said Jim Smith, head of Virtual Channels. “New mobile payment experiences like the one we announced today create unique value propositions for Wells Fargo customers who use PayPal.” For more in depth information click on the picture below to read the release.