General Electric Co. said Tuesday it will partner with eBay Inc. and Internet payment service PayPal Inc. to launch and market a new credit card.
Financial terms of the partnership with GE Consumer Finance were not disclosed. The PayPal Plus credit card expands on the two-year relationship between GE and PayPal. In 2004 they launched PayPal Buyer Credit, a revolving credit line for registered PayPal customers. This new agreement also includes GE eventually launching an eBay branded credit card, while eBay promotes the new card.
Shares of General Electric fell 26 cents to $34.07 in afternoon trading on the New York Stock Exchange.
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