PayPal wants to be everywhere consumers shop

PayPal wants to take a bigger bite out of the market for in-person payments. While PayPal has long held a dominant position for online payments, and peer-to-peer payments via Venmo, it's not made much of a mark for in-store purchases. The company hopes that is about to change.

PayPal said it is expanding its rewards program and availability to deliver an omnichannel solution. Plus, customers can now load their PayPal debit cards onto their Apple Wallets so they can tap to pay with PayPal Debit in stores.

Double dipping rewards

PayPal's enhanced rewards program includes the ability to choose a monthly category of spending, such as groceries or clothing, to receive 5 percent cash back on up to $1,000 in purchases using PayPal debit Mastercard. Customers can also stack rewards on top of their chosen monthly categories by discovering and saving offers in the PayPal app from hundreds of merchants, including Dominoes, DoorDash, Instacart and Petsmart.

For example, if a consumer chooses restaurants as their monthly rewards category, they qualify for 5 percent cash back, plus an additional 10 percent is automatically applied at checkout if they have saved and are using a deal from DoorDash in the PayPal app.

Streamlining signup and card load

PayPal said it has simplified sign up for PayPal balance accounts, digital debit cards and account and routing numbers for PayPal direct deposit. Physical debit cards also available at no additional cost. In addition, customers can now automatically reload funds to keep their PayPal balances at specified thresholds, the company said.

"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 at 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."

Chriss described the changes as "a pivotal moment for PayPal and its customers and a significant first step as we bring the power of PayPal to everywhere they shop."

Eddy Cue, senior vice president at Apple, said the integration of PayPal Debit with Apple aims to "deliver a seamless shopping experience to even more users. Whether in-store, online or in-apps, PayPal debit cardholders will be able to enjoy the convenience and security that Apple Pay brings to their everyday lives."

Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.

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