Citi and PayPal have entered into a partnership, which will allow Citi cardholders to use their cards with PayPal to pay online, in-app and in-store starting next year.

With the latest agreement, Citi has become the first bank to partner with PayPal to tokenise cards for customers who are willing to use PayPal for in-store purchases, across MasterCard and Visa portfolios in the US.

Commenting on the deal, Citi head of US branded cards Ralph Andretta said: “In 2016, Citi has made tremendous strides in our mobile offerings to deliver next-gen solutions to enable banking in the palm of our customers’ hands.

“We’re thrilled to continue that momentum through a new partnership with PayPal in which two leaders in payments are collaborating to further drive innovation and foster a more seamless payments experience.”

PayPal chief commercial officer Gary Marino said: “We continue to partner with the global leaders like Citi that share a common vision to make payments simple, safe and convenient regardless if people are shopping online, in app or in store.

“This agreement gives PayPal and Citi the ability to leverage each other’s core assets to create better payment experiences that add value to the lives of consumers and merchants.”

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