PayPal has announced the launch of its inaugural debit and credit cards alongside the introduction of a new loyalty program. These cards will be available in both physical and digital formats, enabling customers to utilize their PayPal wallet for in-store transactions for the first time.
The new PayPal debit card will be directly linked to users’ PayPal wallet and one of their bank accounts. In cases where there are insufficient funds in the PayPal wallet, the purchase amount will be debited from the connected bank account. The debit card can be used globally without incurring transaction fees, while the PayPal credit card is accepted wherever Mastercard is recognized.
The rollout of the loyalty program by PayPal includes the opportunity for customers to accumulate points on both online and in-store purchases, starting from today. Participants earn one point for every £10 spent, with a reward of £10 back when reaching 1,000 points through transactions with their PayPal account. Shoppers using the PayPal debit card earn ten points for every £10 spent.
The loyalty scheme comprises three tiers: Blue, Gold, and Black. Gold and Black tier members receive points valued up to 50% more during checkout, in addition to exclusive access to VIP experiences and other benefits. The program is designed to integrate with other loyalty initiatives, allowing users to stack and earn PayPal+ points in conjunction with other loyalty points, all at no cost.
Diego Scotti, General Manager of PayPal’s Consumer Group, expressed enthusiasm for the launch in the UK, emphasizing a customer-centric approach to product development tailored for seamless online and in-store payment experiences. Tamer El‑Emary, General Manager of PayPal UK, highlighted the company’s dedication to enhancing the everyday payment experience for British consumers, underscoring the seamless, secure, and rewarding features of PayPal+.
The company’s commitment to innovation and customer satisfaction is evident in its product offerings, which aim to redefine payment value and convenience for users across online and offline transactions.