PayPal Launches New Credit Card With 3% Cash Back

<p><span class&equals;"legendSpanClass"><span class&equals;"xn-location"><strong>SAN JOSE<&sol;strong> &&num;8212&semi; PayPal has introduced a<&sol;span><&sol;span> new Cashback credit card&comma; issued by Synchrony&comma; which gives customers even more cash back when they shop with PayPal&period; With the new card&comma; customers earn unlimited 3&percnt; cash back when paying with PayPal at checkout – online&comma; mobile&comma; or in-store with PayPal QR Code where eligible – and unlimited 2&percnt; cash back on all other purchases anywhere Mastercard is accepted&period;<&sol;p>&NewLine;<p>More than 60&percnt; of American consumers are now shopping both online and in-store&comma; as well as across multiple spend categories according to a McKinsey survey&period; As their shopping behaviors evolve from the pandemic&comma; consumers are on the lookout for flexible ways to make smarter purchases and maximize rewards wherever they shop&period; The new PayPal card has no annual fee&comma; no category restrictions and can be added to a customer&&num;8217&semi;s PayPal wallet for easy&comma; fast&comma; and secure checkout&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Our customers shopped across 34 different categories last year showcasing the diversity of their needs and interests&comma; and we wanted to build a credit product that was flexible and better matched rewards with their spending behaviors&comma;&&num;8221&semi; said <span class&equals;"xn-person">Susan Schmidt<&sol;span>&comma; VP Consumer Credit&comma; PayPal&period; &&num;8220&semi;The new PayPal Cashback credit card was designed so PayPal customers can earn rewards and get cash back for everyday purchases no matter what categories they spend in that month&period;&&num;8221&semi;<&sol;p>&NewLine;<h2><b>What&&num;8217&semi;s New<&sol;b><&sol;h2>&NewLine;<ul >&NewLine;<li><b>Smarter Way to Pay with PayPal<&sol;b>&colon; By using the PayPal Cashback credit card&comma; customers can now pay with PayPal and get more rewards while shopping online&comma; mobile&comma; or in-store where available&period;<&sol;li>&NewLine;<li><b>Better App &amp&semi; Desktop Experience<&sol;b>&colon; The PayPal Cashback credit card offers customers a new user interface within the PayPal app and on the web&comma; delivering a simplified and more integrated way to access rewards&comma; manage purchases&comma; and make payments&period;<&sol;li>&NewLine;<li><b>Easily Redeem Rewards &amp&semi; Make Money Go Further&colon;<&sol;b> In addition to earning more cash back when checking out with PayPal&comma; customers can access rewards every day without having to wait for a monthly statement cycle&period; Based on account type&comma; customers can have the freedom to choose how to use the rewards – whether they wish to make statement payments&comma; make purchases from millions of retailers&comma; or transfer funds to a linked bank account or debit card&period;<&sol;li>&NewLine;<li><b>Cash Back for New Customers&colon;<&sol;b> For a limited time&comma; new card customers will earn a one-time <span class&equals;"xn-money">&dollar;100<&sol;span> cash back bonus on their first <span class&equals;"xn-money">&dollar;500<&sol;span> spent&period;<&sol;li>&NewLine;<&sol;ul>&NewLine;<p>&&num;8220&semi;Together with PayPal&comma; we continue to build on the seamless integration that has been a hallmark of our partnership&comma; allowing us to enhance rewards to our customers and improve the user experience&comma;&&num;8221&semi; said <span class&equals;"xn-person">Bart Schaller<&sol;span>&comma; CEO of the Digital Platform at Synchrony&period; &&num;8220&semi;Plus&comma; it&&num;8217&semi;s easy to use and manage – the new PayPal Cashback credit card is sure to be a customer favorite&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Existing eligible PayPal 2&percnt; Cashback credit card holders will automatically be upgraded into the new 3&percnt; cash back card structure and can start earning higher cash back rewards whenever they use their card to check out with PayPal&period; The new PayPal Cashback credit card will soon be available to select customers who can apply through the PayPal app and <a class&equals;"wd&lowbar;local" href&equals;"http&colon;&sol;&sol;www&period;paypal&period;com&sol;" rel&equals;"nofollow">www&period;paypal&period;com<&sol;a> and will continue to roll out in the coming weeks&period;<&sol;p>&NewLine;