Online payment company Paypal has introduced a new credit card in the United States. The company’s US customers will soon be able to pay for their purchases in shops via their PayPal account.
The Paypal Mastercard card is linked to a special cashback payment, whereby customers can be refunded 2 percent of their purchases. This money is then transferred into their digital wallet at PayPal and is actually intended to further stimulate the buying behavior of customers. For the credit card, PayPal works with the financial services provider Synchrony.
“We’ve heard cash rewards are easy for customers to understand and simple to use. So, we set out to create a rewards credit card that’s free from the usual restrictions – offering cash rewards to redeem when you want, how you want, on whatever you want,” the company stated.
This decision is part of PayPal’s desire to be more profiled as a current payment solution. Over the past year and a half, the US company has already signed more than 20 agreements with prominent players such as Apple, Visa and JPMorgan, to make payments more and more a part of its 210 Million customers.
This is the second credit card PayPal has issued; it has offered another credit card through Synchrony since 2006. That card offers rewards, but they are not as straightforward as the new cashback benefits.
The new Paypal credit card is not available in Canada.