PayPal is set to introduce its debut debit and credit cards, along with a fresh loyalty program. These cards will be available in physical and digital formats, enabling consumers to utilize their PayPal wallet for in-store transactions for the first time.
The novel PayPal debit card will connect directly to your PayPal wallet and one of your bank accounts. In case your PayPal wallet lacks funds during a purchase, the transaction amount will be deducted from your bank account.
According to PayPal, the debit card can be utilized globally without incurring transaction fees, while the PayPal credit card will be accepted wherever Mastercard is recognized.
This launch coincides with the unveiling of PayPal’s new loyalty scheme today, allowing customers to accumulate points from both online and in-person transactions.
Customers will earn one point for every £10 spent, receiving £10 back for every 1,000 points accrued when using their PayPal account. Moreover, users will earn ten points for every £10 spent with the PayPal debit card.
The loyalty program comprises three tiers: Blue, Gold, and Black. Gold and Black tier members will enjoy points valued up to 50% more at checkout, along with exclusive access to VIP experiences and additional benefits.
The scheme is designed to be compatible with other loyalty programs, enabling customers to stack and earn PayPal+ points on top of existing loyalty points. Registration for PayPal+ is free.
Diego Scotti, General Manager of PayPal’s Consumer Group, expressed enthusiasm for the launch, stating that it marks a new phase for PayPal in the UK by offering a comprehensive payment solution for both online and offline transactions.
Tamer El‑Emary, General Manager of PayPal UK, emphasized the company’s dedication to British consumers and businesses, highlighting the product enhancements aimed at enhancing the everyday use of PayPal.
In conclusion, PayPal’s innovative offerings aim to redefine the concept of value in payments, providing customers with a rewarding and seamless payment experience online and on the high street.