The company has introduced the credit card to gain a stronger foothold in the brick and mortar payments ecosystem. The new product offers customers a 2% return on all purchases with no annual fees. The rewards will be available in the user’s e-wallet and can be spent immediately on additional PayPal purchases or transferred to a bank.
The decision to issue plastic cards is part of the company’s effort and strategy to diversify its financial services, making PayPal a financial tool for everyday use, including in brick-and-mortar stores. In 18 months, the payments company has secured more than 24 deals and partnerships with companies like Visa, Apple and JP Morgan Chase.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright