PayPal CEO Divulges Partnership Talks With Amazon

When Paypal Holdings Inc PYPL was part of the eBay Inc EBAY family, it was technically a competitor with its fellow e-commerce peer Amazon.com, Inc. AMZN.

Now that Bloomberg, PayPal's CEO Dan Schulman said it has had conversations with Amazon regarding partnerships. The executive highlighted the fact that his platform boasts 200 million users so it is "hard for any retailer to think about not accepting PayPal."

Amazon also operates its own payment system and poached Patrick Gauthier, a former PayPal executive to lead its initiatives in 2015. Two years prior, Amazon launched "Login and Pay with Amazon," which allows other retailers to complete purchases with their Amazon credentials.

However, Bloomberg noted that Amazon is trying to find the ideal balance between controlling payments with its customer-centric philosophy given PayPal's massive reach. In addition, a comment complaint and request among Amazon's shoppers has also been to fund a purchase through their PayPal accounts.

Schulman acknowledged that there is no new deal to announce with Amazon at this time but hinted that they have talked about combining their respective assets to the mutual benefit of both customer bases.