PayPal launches rewards credit card in expansion to physical stores
You may know PayPal as a digital payment giant, but the company announced its next big step: launching its first-ever rewards credit card in Australia.
The move sees PayPal expand its online offering to physical stores, with customers able to take PayPal anywhere worldwide where Visa is accepted. Cardholders can earn points with every eligible purchase and redeem them at any of the 750,000 businesses globally that have PayPal integrated at checkout (including over 300,000 in Australia).
The PayPal Rewards Card comes with perks including 50,000 bonus rewards points, uncapped reward points that never expire and zero annual fees.
PayPal Australia’s general manager for payments, Andrew Toon, said this flexibility could help credit card users avoid situations where they end up with Frequent Flyer or Velocity points they can’t spend because of COVID-19 border closures.
“Customers have said they want a flexible rewards program with points they can redeem however they’d like,” he said.
“The pandemic has made the value of flexible rewards even clearer, as many Australians have been left with travel-related points they haven’t been able to use the way they would like to due to safety concerns and border restrictions.”
How does the PayPal Rewards Card work?
The card appears in your PayPal digital wallet instantly after approval and can be used for online purchases. Once the physical card gets delivered via mail, you can then use the card in-store too.
Cardholders can redeem PayPal rewards points for discounts on eligible purchases.
You have two options: points can be applied when you check out with PayPal online, or you can select a transaction in your account after purchasing an item and use your points to pay for it instead.
The PayPal app allows you to track your credit card and rewards points balance - so you can stay on top of your spending. Additionally, if you choose to, you can select one of three instalment payment options for your purchases, for added flexibility.
Interested in seeing how the PayPal Rewards Card stacks up against other credit card offers in the market? Scroll down below for a snapshot, or head on over to our rewards credit card comparison hub for even more options.
This article was a contribution between Ava Crawford and Katherine O’Chee
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