According to the ‘UN World Population Prospects Report 2022’, the majority of US adults have used payments platform, PayPal, in the last five years. Looking to ensure it retains customers, the paytech is now offering customers access to new rewards and stackable cashback offers, in addition to other personalised services, in PayPal’s app.
Consumers are on the hunt for greater savings, and PayPal is looking to heed this call as it expands its new rewards programme. It will now deliver an omnichannel solution to give consumers a smart choice for every purchase they make, every time.
PayPal’s enhanced rewards include the ability to choose a monthly category of spending. For example, on groceries or clothing: consumers can receive five per cent cash back on up to $1,000 in selected category spend per month when using their PayPal Debit MasterCard.
Customers can also stack rewards on top of their monthly category by discovering and saving offers in the app from top brands including but not limited to:
Sephora
Domino’s
DoorDash
Instacart
PetSmart
For example, if a customer selects ‘Restaurant’ as their monthly category, they’ll receive five per cent cashback and another 10 per cent cashback (for a total of 15 per cent) if they save a deal from DoorDash in the PayPal app. This will be automatically applied when checking out with PayPal online.
Understanding consumer needs
Every customer has unique needs and individual spending patterns. PayPal’s new auto-reload option empowers them to shop confidently by setting a PayPal balance threshold that automatically tops up if it dips below their chosen amount. Knowing how much is in their balance and customising it for their shopping needs removes the guesswork and makes the app simpler for its users in the US.
“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. 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,” said Alex Chriss, president and CEO, PayPal.
“It’s a pivotal moment for PayPal and its customers and a significant first step as we bring the power of PayPal to everywhere they shop.”
In addition, customers can now add their PayPal Debit Card to Apple Wallet in just a few steps and use it with Apple Pay, enabling even more ways to pay.
“We’re excited to work with PayPal to bring Apple Pay to PayPal Debit Card cardholders and help deliver a seamless shopping experience to even more users,” said Eddy Cue, senior vice president of services at Apple. “Whether in-store, online or in-apps, debit card cardholders will be able to enjoy the convenience and security that Apple Pay brings to their everyday lives.”
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