With the new deal, you can now add Chase and Citibank-issued cards to your PayPal account and accrue reward points from each bank when you use them via PayPal. Chase Pay becomes another way to fill your PayPal Wallet, while you'll also be able to use the service to pay Braintree merchants like OpenTable, Uber and TaskRabbit. Chase cardholders are also in line for an upcoming NFC mobile feature using "tokens" in stores.

"Similar to some of our other issuer and bank partnerships, our partnership with Chase will drive more choice, flexibility and value for our joint customers, enable PayPal to further expand its reach in-store, enable Chase-issued cards to be easily added to newly created or existing PayPal accounts and will allow joint customers to use their Chase Ultimate Rewards Points anywhere PayPal is accepted online and in-app," said PayPal's Dan Schulman in a statement.