Tech news

PayPal introduces more valuable cashback credit cards

PayPal and Mastercard Expand Partnership to Benefit Consumers, Merchants  and Financial Institutions | Global Hub

 

PayPal users are finally getting rewarded for their loyalty! PayPal users can now earn more rewards when using the new PayPal Cashback Mastercard credit card. This credit card offers 3% cash back on purchases that are made digitally through PayPal’s service or in stores that accept PayPal QR codes. 

This Mastercard, issued by Synchrony, was introduced to PayPal’s schemes on April 5th. New PayPal customers can apply for this card from the very beginning and existing Cashback Mastercard holders can start earning at a 3% rate from the week of introduction. 

Apart from PayPal being known for always introducing perks to its customers, PayPal is also one of the most popular payment methods around the world. In fact, the company’s annual mobile payment volume amounted to 227 billion U.S. dollars in 2018. It is also the leading payment option for online transaction in the U.S. A number of industries had to change their payment method systems to adapt to this rise in popularity such as the retail industry and e-commerce websites, the travel industry when paying for flights and accommodation, online food delivery, the gambling industry such as with betting apps in Australia and all over the world, and many other industries. 

The biggest change in these cashback credit cards is the increase to 3% on purchases made with PayPal digitally or in stores. Before this change, existing cardholders earned only 2%. However, other changes are happening. 

New cardholders can also earn a $100 cash back bonus after they spend their first $500 on the card. However, this offer will only be available for a limited time. There will also be no more waiting for monthly statement before customers can get their rewards. The new update can have customers redeem their rewards instantaneously. Customers can also manage their cards online and in the PayPal app. 

If you are a regular PayPal user, then the PayPal cashback credit card will definitely provide solid opportunities for you to earn more and more rewards as time goes by. There are no annual fees associated with this card and it offers strong cash back rates. 

The cashback credit card can offer more that 3% in certain categories, but rest assured that regardless of what you buy, you will also earn at least 3% back, as long as the vendor accepts PayPal as a digital payment method

ABHIYAN
the authorABHIYAN
Abhiyan Chhetri is a cybersecurity journalist with a passion for covering latest happenings in cyber security and tech world. In addition to being the founder of this website, Abhiyan is also into gaming, reading and investigative journalism.

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