Author: Perez Clark
PayPal Holdings, Inc recently launched PayPal Rewards, a program that enables users with new ways to earn, save, track, shop, and redeem rewards in their PayPal app.
In this article, we will look at PayPal Rewards and what the new program has to offer.
Let’s get started!
PayPal’s New Rewards Program Helps Consumers Save Money Just in Time For the Holiday Season
PayPal is introducing a reward program that offers customers upgraded ways to spend on the app. This program connects cashback savings, deals and discounts, shopping products, and merchant offer into one complete shopping experience.
“Given the financial difficulties consumers face nowadays, caused by the rising inflation and the need to stretch out paychecks, shopping for everyday necessities and planning for the holiday can be challenging,” wrote Greg Lisiewski, VP of Shopping and Global Pay Later.
“PayPal makes this easier for customers by simplifying the process of finding deals, discounts, and products when shopping through its service.”
Customers can save money and earn reward points through discounts and cashback from retailers participating in the Rewards program.
According to the company, PayPal Rewards, which became available for U.S users in October, will be structured using the $200 Million saved through the PayPal Honey discounts and cashback.
What Does The PayPal Rewards Program Offer?
Simply put, PayPal Rewards offers the following:
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New Ways to Earn
Users can earn Rewards points in several ways, including using the PayPal Honey browser extension to scour around for deals, making purchases, and interacting with the PayPal app alongside the various prompts that come up.
With the introduction of PayPal Rewards, Honey Gold points will be the program’s reward points. Honey is a range of online purchasing tools that members use to save money and earn rewards. In 2019, PayPal bought the financial service and began integrating its services.
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More Ways To Redeem
Users can redeem points without facing amount minimums and category restrictions in PayPal’s ecosystem.
After redeeming your funds, you can transfer them to your PayPal-linked bank or savings account. You can also donate to a charity or save your funds using P2P.
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Designated Rewards Location
PayPal will begin recording your rewards in a designated part of the app, making it easier for customers to find and redeem rewards across the PayPal ecosystem.
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Completely Integrated Rewards Program
Users can join their rewards from multiple PayPal services such as the PayPal app, Honey browser extension, and, soon enough, PayPal card products.
As the country struggles with rising prices entering the holiday season, discounts and cashback remain among top consumer priorities. Over 25% of shoppers report loyalty programs and holiday bundles as the most crucial deciding factor when selecting where to shop.
Final Word
Users can link an existing account or create a new one to start enjoying PayPal’s unique integrated customer experience.
But just before you go about redeeming your points, remember that the value of your reward points is no longer what it used to be; nowadays, issuers, PayPal included, devalue reward points to increase the numbers of use applications customers have. Customers can find the value of their holdings in the PayPal app.