PayPal is set to introduce its inaugural debit and credit cards, in addition to unveiling a new loyalty program for customers. These new cards will be available in physical and digital formats, allowing users to utilize their PayPal wallet for in-store purchases for the first time.
The new PayPal debit card will be directly linked to the user’s PayPal wallet and one of their bank accounts. If the PayPal wallet funds are insufficient, the purchase amount will be deducted from the linked bank account. PayPal states that the debit card can be used globally without any transaction fees, while the PayPal credit card will be accepted wherever Mastercard is recognized.
Simultaneously, PayPal is launching its loyalty program, where shoppers can earn points on both online and in-store transactions. Customers will accumulate one point for every £10 spent, and upon reaching 1,000 points, they can redeem £10 to use with their PayPal account. Additionally, users will receive ten points for every £10 spent using the PayPal debit card.
The loyalty program features three tiers: Blue, Gold, and Black. Gold and Black members will earn points worth up to 50% more at checkout, gain access to VIP experiences, and enjoy other exclusive benefits. The program is designed to work alongside other loyalty schemes, allowing users to stack and earn PayPal+ points on top of existing loyalty points. Signing up for PayPal+ is free of charge.
Diego Scotti, General Manager of PayPal’s Consumer Group, expressed excitement about these new offerings, highlighting the enhanced value and rewards for customers. Tamer El-Emary, General Manager of PayPal UK, emphasized the company’s dedication to enhancing the customer experience and bringing the benefits of PayPal to in-store shopping.
The introduction of these new cards and the loyalty program reflects PayPal’s commitment to providing innovative and rewarding solutions for its users in the UK.