PayPal launches rewards credit card in expansion to physical stores

Credit card payment in store

You may know PayPal as a digital payments giant, but the company today announced its next big step: launching its first ever rewards credit card in Australia.

The move will see PayPal expand its online offering to physical stores, with customers soon able to take PayPal anywhere worldwide where Visa is accepted. Cardholders can earn points with every eligible purchase, and redeem them at any of the 750,000 businesses globally that have PayPal integrated at checkout (including over 300,000 in Australia). 

The PayPal Rewards Card, set to roll out from mid-July, will come with perks including zero annual fees and uncapped rewards points. 

PayPal Australia’s general manager for payments, Andrew Toon said this flexibility can help credit card users avoid situations where they end up with Frequent Flyer or Velocity points they can’t spend because of COVID-19 border closures. 

“Customers have said they want a flexible rewards program with points they can redeem however they’d like,” he said.

“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.” 

How will the PayPal Rewards Card work? 

From mid-July, applications for the PayPal Rewards Card will open. The card will appear in your PayPal digital wallet instantly after approval, and can be used for online purchases. Once the physical card gets delivered via mail, you’ll be able to use the card in-store too. 

PayPal rewards points can be redeemed for discounts on eligible purchases. You’ll have two options: either points can be applied when you check out with PayPal online, or they can be used to offset the cost of a recent purchase you’ve made using your PayPal Rewards Card. 

The PayPal app will also allow you to track your credit card and rewards points balance, allowing you to stay on top of your spending. 

Interested in seeing how the PayPal Rewards Card stacks up against other credit card offers in the market? Scroll down below for a snapshot, or head on over to our rewards credit card comparison hub for even more options.

Compare credit cards - rates updated daily

Search promoted credit cards below or do a full Mozo database search. Advertiser disclosure.
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    Kogan Money Black Card

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    Bendigo Bank Low Rate Credit Card

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    MoneyMe Freestyle Virtual Mastercard

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    Receive 55,000 bonus Qantas Points when you apply, are approved, and meet the minimum spend criteria of $3,000 in the first 3 months. T&Cs apply. Available to new Card Members only.

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^See information about the Mozo Experts Choice Credit Card Awards

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