A unit of Bancorp (TBBK) of Wilmington, Del., is working with PayPal to offer electronic person-to-person payments through its affinity relationships.
The Bancorp Bank will also offer PayPal's Instant Account Creation and Account Funding to its affinity customers in 2012, the $3 billion-asset company said Tuesday. Instant Account Creation allows customers to open an account for PayPal directly from Bancorp. PayPal is a unit of eBay (EBAY).
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's executive vice president and chief innovations officer, said in a news release. "We're thrilled about our relationship with PayPal."