New rich rewards and in-store access transform
PayPal into a single solution for every type of customer everywhere
they shop
SAN
JOSE, Calif., Sept. 5,
2024 /PRNewswire/ -- PayPal (NASDAQ: PYPL) today
ushered in a new era for customers, making it easier and more
rewarding than ever to shop and pay with PayPal anywhere, anytime –
both in stores and online. Now, customers have access to rich
rewards, stackable cash back offers in the PayPal app, and more
personalized ways to manage their spending – all with the safety
and security PayPal is known for and the peace of mind they're
getting more money back in their pockets.
PayPal has been the go-to solution for online purchases, with
the majority of U.S. adults having used PayPal in the last 5
years1. Now, with consumers looking for more ways to
save money on every purchase, PayPal is expanding its reward
program and its availability to deliver an omnichannel solution to
give consumers a smart choice for every purchase, every time.
PayPal's enhanced rewards include the ability to choose a monthly
category of spending, such as groceries or clothing, to receive 5%
cash back on up to $1,000 in selected
category spend per month when using their PayPal Debit MasterCard
® 2. Customers can also stack rewards
on top of their monthly category by discovering and saving offers
in the PayPal app from top brands including Sephora, Domino's,
DoorDash, Instacart, PetSmart, and hundreds more. For example, if a
customer selects Restaurant as their monthly category, they'll
receive 5% cash back3 and another 10% cash back [for a
total of 15%] if they save a deal from DoorDash in the PayPal app,
which will be automatically applied when checking out with PayPal
online.
Every customer has unique needs and individual spending
patterns. PayPal's new auto-reload option empowers them to shop
confidently by setting a PayPal balance threshold that
automatically tops up if it dips below their chosen amount. Knowing
how much is in their balance and customizing it for their shopping
needs removes the guesswork and makes PayPal simpler for millions
of Americans.
"We know that consumers are looking for smart, simple and safe
ways to make their everyday purchases while also getting more value
out of every transaction. That's why millions of customers can now
enjoy the trust and convenience they love about PayPal everywhere -
both in-store and online, with access to rich rewards that put more
money back in their pockets," said Alex
Chriss, President and CEO, PayPal. "It's a pivotal moment
for PayPal and our customers and a significant first step as we
bring the power of PayPal to everywhere they shop."
In addition, customers can add their PayPal Debit Card to Apple
Wallet in just a few steps and use it with Apple Pay, enabling even
more ways to pay.
"We're excited to work with PayPal to bring Apple Pay to PayPal
cardholders and help deliver a seamless shopping experience to even
more users," said Eddy Cue, Senior
Vice President of Services at Apple. "Whether in-store, online or
in-apps, PayPal cardholders will be able to enjoy the convenience
and security that Apple Pay brings to their everyday lives."
Why Customers Will Love Using PayPal Everywhere They Shop:
- Simple Sign-up: Streamlined sign up for a PayPal Balance
Account, Digital Debit Card, and Account and Routing Numbers for
PayPal Direct Deposit. A physical debit card can be requested at no
cost.
- Auto-reload: Customers will now have a personalized way to
manage their spending, with the ability to automatically reload
funds to keep their PayPal balance at a certain threshold.
- Tap-to-Pay: Add the PayPal Debit Card to their mobile
wallet with just a few clicks to earn cash back when they
tap-to-pay with PayPal Debit in stores.
- 5% Cash Back In-Store and Online: Flexibility to choose a 5%
PayPal Debit monthly cash back category from grocery, gas,
restaurant, clothing, and health & beauty.
- Stackable Cash Back Rewards: Earn 5% cash back with PayPal
Debit and even more by stacking additional offers in their monthly
category at the brands customers love like Sephora, Domino's,
DoorDash, Instacart, PetSmart, and many more when they check out
with PayPal online.
- Secure Transactions: As always expected, when they check out
online with PayPal, all transactions are encrypted, and customers'
full financial information is not shared.
To learn more about shopping everywhere with PayPal, visit
paypal.com.
About PayPal
PayPal has been revolutionizing commerce globally for more than 25
years. Creating innovative experiences that make moving money,
selling, and shopping simple, personalized, and secure, PayPal
empowers consumers and businesses in approximately 200 markets to
join and thrive in the global economy. For more
information, visit https://www.paypal.com, https://about.pypl.com/ and https://investor.pypl.com/.
Press Contact
Amy Bonitatibus
Abonitatibus@paypal.com
Gideon Anstey
Gbanstey@paypal.com
Investor Relations Contact
Steven Winoker
swinoker@paypal.com
- PayPal consumer penetration % calculation is based on number of
unique PayPal consumers divided by total adult population (aged
18+), Source: UN World Population Prospects Report 2022 (2022 and
2023 adult population estimated using 2015-2021 CAGR).
- The PayPal Debit Mastercard is issued by The Bancorp Bank, N.A.
pursuant to a license by Mastercard International Incorporated and
may be used everywhere Mastercard is accepted. Mastercard and the
circles design are registered trademarks of Mastercard
International Incorporated. The Bancorp is issuer of the Card only
and not responsible for the associated accounts or other products,
services, or offers from PayPal.
- 5% Cash back earned as points you can redeem for cash and other
options on up to $1,000 category
spend/month. Terms Apply. Merchant offers are subject to
availability, merchant exclusions and PayPal Rewards terms.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/introducing-paypal-everywhere-302238872.html
SOURCE PayPal Holdings, Inc.