PayPal has expanded its reward offering in the US with the goal of giving customers more choice, a move indicative of shifts in consumer expectations in recent years.
The California-based international payments giant has announced ‘PayPal Everywhere’, described as an omnichannel solution which gives customers a ‘smart choice’ for every purchase.
Specifics will see customers able to receive 5% cash back on purchases up to $1,000 on selected categories per month using the PayPal Debit Mastercard 2. Customers can also stack rewards in the monthly category by making purchases with widely used brands.
Perhaps most significant is PayPal’s recognition of individual customer demands and even more significantly – spending partners. PayPal has set a balance threshold for PayPal Everywhere users which automatically tops up if falling below a certain amount.
The firm stated that ‘knowing how much is in their balance and customising it for their shopping needs removes the guesswork and makes PayPal simpler for millions of Americans’.
With many countries, including the US, continuing to economically rebound from the effects of the pandemic and lockdowns, cutting costs is high on the agenda for customers. PayPal seems to have taken this on board with its rewards programme’s expansion.
“We know that consumers are looking for smart, simple and safe ways to make their everyday purchases while also getting more value out of every transaction,” said Alex Chriss, President and CEO, PayPal.
“That’s why millions of customers can now enjoy the trust and convenience they love about PayPal everywhere – both in-store and online, with access to rich rewards that put more money back in their pockets.
“It’s a pivotal moment for PayPal and our customers and a significant first step as we bring the power of PayPal to everywhere they shop.”
The rewards platform expansion is the latest in a series of upgrades PayPal has made to its platform this year. This has included launching six AI-backed products in January, adding Apple Tap to Pay to Vemmo in March, and making its Fastlane service available for US businesses in August.
Separately, the development is also indicative of the growing role of Big Tech firms in the payments sphere, and the sometimes close cooperation between said companies. Apple Wallet users will be able to add the PayPal Debit Card to their wallets, enabling use with Apple Pay.
“We’re excited to work with PayPal to bring Apple Pay to PayPal cardholders and help deliver a seamless shopping experience to even more users,” added Eddy Cue, Senior Vice President of Services at Apple.
“Whether in-store, online or in-apps, PayPal cardholders will be able to enjoy the convenience and security that Apple Pay brings to their everyday lives.”
