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Cards

PayPal launches credit card with cash back on purchases

Thursday 31 August 2017 | 12:09 PM CET

PayPal has introduced a credit card that offers customers 2% cash back on every purchase they make.

The company has introduced the credit card to gain a stronger foothold in the brick and mortar payments ecosystem. The new product offers customers a 2% return on all purchases with no annual fees. The rewards will be available in the user’s e-wallet and can be spent immediately on additional PayPal purchases or transferred to a bank.

The decision to issue plastic cards is part of the company’s effort and strategy to diversify its financial services, making PayPal a financial tool for everyday use, including in brick-and-mortar stores. In 18 months, the payments company has secured more than 24 deals and partnerships with companies like Visa, Apple and JP Morgan Chase.

More: Link
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