SAN JOSE, Calif., Oct. 17, 2022 - PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the introduction of PayPal Rewards, a new unified rewards program that gives customers an easy way to shop, earn, track, save, and redeem rewards and offers all in one place – their PayPal app. PayPal Rewards connects PayPal's merchant offers, cash back savings, and shopping products into one experience.
As consumers continue to navigate high prices heading into the holiday shopping season, deals, discounts, and cash back remain top priorities, with 25% of consumers stating loyalty programs are the most important factor when deciding where to shop1. PayPal Rewards provides a ubiquitous rewards program, where consumers can earn PayPal Rewards points and save money through cash back and discounts at participating retailers. PayPal Rewards will build upon the nearly $200 million PayPal consumers have already saved this year so far through PayPal Honey-enabled cash back and discounts.2
"With the financial challenges people face these days, brought on by rising prices and the need to tighten budgets, it can be frustrating to shop for everyday essentials or plan for the holidays," said Greg Lisiewski, Vice President of Shopping and Global Pay Later. "PayPal Rewards makes it easy to find sales, discounts, and great deals when making a purchase with PayPal – through cash back, discount codes, or other rewards."
PayPal Rewards provides:
With the introduction of PayPal Rewards, Honey Gold will become PayPal Rewards points. Customers will have the option to set up or link to an existing PayPal account and start benefiting from this new integrated experience with more ways to redeem their rewards points.
PayPal Rewards will start rolling out to U.S. customers today.
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering 429 million consumer and merchant accounts in more than 200 markets to join and thrive in the global economy. For more information, visit https://www.paypal.com.
SOURCE PayPal Holdings, Inc.
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