PayPal launches rewards credit card in expansion to physical stores

Credit card payment in store

You may know PayPal as a digital payments giant, but the company today announced its next big step: launching its first ever rewards credit card in Australia.

The move will see PayPal expand its online offering to physical stores, with customers soon 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, set to roll out from mid-July, will come with perks including zero annual fees and uncapped rewards points. 

PayPal Australia’s general manager for payments, Andrew Toon said this flexibility can 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 will the PayPal Rewards Card work? 

From mid-July, applications for the PayPal Rewards Card will open. The card will appear in your PayPal digital wallet instantly after approval, and can be used for online purchases. Once the physical card gets delivered via mail, you’ll be able to use the card in-store too. 

PayPal rewards points can be redeemed for discounts on eligible purchases. You’ll have two options: either points can be applied when you check out with PayPal online, or they can be used to offset the cost of a recent purchase you’ve made using your PayPal Rewards Card. 

The PayPal app will also allow you to track your credit card and rewards points balance, allowing you to stay on top of your spending. 

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.

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  • Apply By 30 June 2021
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    Bendigo Bank Low Rate Credit Card

    0% p.a. balance transfer for 24 months (Reverts to 11.99% p.a). Low annual fee of $45 and no fees for additional cardholders.

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    Mozo Experts Choice 2020
    American Express Qantas Ultimate Card

    Receive 120,000 bonus Qantas Points plus 120 Status Credits when you apply, are approved, and meet the minimum spend criteria of $4,500 in the first 3 months. T&Cs apply. Available to new Card Members only.

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    20.74% p.a.
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  • Apply By 30 November 2021
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    St.George Vertigo

    0% p.a. for 30 months on balance transfers requested at card application. 0% balance transfer fee applies. Rate then switches to applicable variable cash advance rate. No annual fee for the first year, $55 thereafter. New cards only, Eligibility criteria and T&Cs apply. Offer ends November 30th 2021.

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    $55 $0 in the first year
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    Great Southern Bank Low Rate Credit Card

    0% balance transfer rate for 20 months and up to 55 interest free days. No annual fee for the first year and $49 after. Mozo Experts Choice Balance Transfer Platinum Credit Card Winner 2020^

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    11.99% p.a.
    0% p.a. for 25 months and then 21.74% p.a.
    $49 $0 in the first year
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  • Apply By 30 November 2021
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    Westpac Low Rate

    Enjoy a super low rate of 13.74% with 55 days interest free plus 0% balance transfer for up to 28 months at 1% BT fee. No annual card fee for the first year, $59 thereafter. New Cards only. Offer ends November 30th 2021. T&C's and exclusions apply.

    Purchase rate
    Balance transfer rate
    Annual fee
    Rewards program
    13.74% p.a.
    0% p.a. for 28 months and then 21.49% p.a. (1.00% balance transfer fee)
    $59 $0 in the first year
    -
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^See information about the Mozo Experts Choice Credit Card Awards

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