The PayPal Business Cashback Mastercard, issued by WebBank and supported by the Mastercard network, is the first business credit card offered through PayPal. The card has no annual fee and rewards cardholders with 2% cashback on all purchases with no rewards earning caps or expiration.
The new product offers a way for businesses to pay for both everyday business expenses and those that may unexpectedly arise, while also earning cashback rewards on all purchases. Approved businesses are provided immediate access to their assigned credit limit through a virtual card that is automatically integrated into the business’s PayPal account and is immediately available as a payment method when merchants check out with PayPal. Account and spending details are accessed through the cardholder’s PayPal Business account.
Small businesses need an array of tools to fund their everyday business expenses in a flexible manner. According to the 2022 Small Business Credit Survey conducted by the Federal Reserve Banks, credit cards were the second most common form of financing sought by small businesses. The PayPal Business Cashback Mastercard offers SMB owners the opportunity to qualify for a business credit card.
The PayPal Business Cashback Mastercard was developed in conjunction with US-based Concerto Card Company, WebBank, and Mastercard to provide PayPal merchants with access to a small business credit card. Cardholder benefits include: 2% cashback on all purchases without a limit on cashback earned or category restrictions, no annual fee, no foreign transaction fees, competitive APR for purchases ranging from 13.99%-29.99%, a virtual card that can be used immediately upon approval when merchants check out with PayPal, free employee cards with separate account numbers, and advanced security features, including Mastercard ID Theft Protection and Zero Liability.
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