PayPal is today announcing plans to launch the PayPal Rewards Card in Australia, its inaugural consumer credit card in the market.
„The PayPal Rewards card, launching in July 2021, will have zero annual fees and uncapped rewards points, with the ability for consumers to earn points with every eligible purchase and redeem points at more than 750,000 PayPal businesses globally, including more than 300,000 PayPal businesses in Australia,” according to the press release.
Andrew Toon, General Manager, Payments, PayPal Australia said: “Consumers have said they want a flexible rewards program with points they can redeem however they’d like. The pandemic has made the value of flexible rewards even clearer, as many Australians have been left with travel-related points they haven’t been able to use the way they would like to due to safety concerns and border restrictions.”
The PayPal Rewards Card can be used globally anywhere Visa is accepted and earns points with every eligible purchase.
Axel Boye-Moller, Visa’s Head of Product for Australia, New Zealand and South Pacific said: “Visa is thrilled to be the payments network collaborating with PayPal on their first consumer credit card in Australia. In addition to this new card offering more flexible rewards, it also provides a secure, seamless and convenient everyday payment experience for today’s connected and digital-savvy consumer.”
Rewards points can be redeemed for eligible purchases when checking out with PayPal online, or applied to a recent PayPal Rewards Card purchase to offset the cost, providing maximum flexibility for how consumers use their rewards. Spending and reward point balance can be tracked through the PayPal app, allowing consumers to manage their account with ease.
All eligible purchases with the PayPal Rewards Card will be covered by Visa’s Zero Liability policy[iii], while eligible payments made online using PayPal will also be covered by PayPal’s Buyer Protection policy. The PayPal Rewards Card will appear in a consumer’s PayPal wallet immediately following approval, ready to use for online purchases before the physical card is delivered to their door.
“Our customers have been telling us they want to take PayPal with them into physical stores for some time,” said Andrew. “This is just one of the ways we are continuing to enhance the choice and flexibility we offer our customers for how they prefer to pay. The PayPal Rewards Card will offer another safe and rewarding way for Australians to purchase goods and services in their everyday lives, creating a seamless shopping experience across the online and physical worlds.”
Applications for the PayPal Rewards Card will be open from mid July 2021.
[i] The PayPal Rewards Card will be issued by Citigroup Pty Ltd, which holds an Australian Credit License (ACL) number 238098.
[ii] PayPal Rewards Points can be redeemed for eligible purchases when checking out with PayPal online or via online servicing. Terms and conditions apply.
[iii] Visa’s Zero Liability policy covers Australian and New Zealand-issued cards and does not apply to ATM transactions, transactions not processed by Visa or certain commercial card transactions. Terms, conditions and exclusions apply.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
