PayPal has introduced a physical PayPal Credit card, issued by Synchrony, that allows customers to use PayPal Credit for in-store purchases and anywhere Mastercard is accepted.
This move extends the credit offering beyond its original use for online transactions through the PayPal platform.
The card includes a limited time promotional financing offer, enabling cardholders to pay for eligible travel purchases, such as flights, hotels, cruises, and ride shares, over a six month period, with no minimum spend required.
The aim is to provide more flexibility in managing travel costs.
PayPal Credit has been a popular option for online payments.
With the addition of a physical card, users can now access the same flexible payment features in person.
Customers will continue to benefit from the existing six month promotional financing offer on PayPal purchases over US$149.
“PayPal Credit is one of our most popular products and customers have long been requesting the ability to use it on the go as they look for more choice and flexibility wherever they shop,”
said Scott Young, SVP, Global Head of Consumer Financial Services at PayPal.
“From our buy now pay later options to our credit cards, we continue to bring customers a range of solutions to help them manage cash flow and pay in the ways that suits their budgets for the things they love and need.”
Adam Granoff, Executive Vice President of Global Partnerships at Mastercard, said:
“Bringing together Mastercard’s global acceptance network with PayPal’s trusted digital platform, this new offering extends PayPal Credit with a physical card that empowers cardholders to shop seamlessly and confidently everywhere whether they are booking summer travel or making everyday purchases.”
This new offering adds to PayPal’s existing credit options, including the PayPal Cashback card. It can also be added to mobile wallets for tap to pay functionality.
Customers seeking additional flexibility at checkout can also apply for PayPal’s buy now pay later option, which allows them to split purchases into smaller payments over time.
The new physical card will begin rolling out to eligible customers in the United States in the coming weeks. Existing PayPal Credit users who qualify will receive notifications about the card upgrade directly.
Featured image credit: PayPal
