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PayPal (PYPL) Boosts Digital Payment Efforts With New Card
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PayPal (PYPL - Free Report) has unveiled a payment card to strengthen its technology-driven payment solutions portfolio.
The PayPal Cashback credit card, which is being issued by Synchrony, allows customers to gain more rewards, while shopping online and offline, and paying with PayPal.
The card offers a 3% cashback when paying with PayPal at checkout — online, mobile, or in-store with PayPal QR Code.
It also gives an unlimited 2% cashback on all other purchases made through Mastercard, wherever accepted.
The card users can enjoy the easy redemption of these rewards, which can be accessed any day. The cashback can be used to make purchases from retailers, make statement payments, or transfer funds to a linked bank account or debit card.
We believe that all these benefits will bolster the adoption rate of the underlined card. Also, the latest move will aid PayPal in gaining further momentum among customers.
The latest move bodes well for the company’s growing efforts toward bolstering its card offerings., It is also in sync with PYPL’s strengthening digital payment endeavors.
PayPal’s collaboration with Mastercard (MA - Free Report) remains noteworthy. With the help of this collaboration, the former has been able to expand the customer reach for its PayPal Business Debit Mastercard, which is ideal for small businesses, and does not carry any monthly fees or foreign exchange fees.
Further, card users get unlimited 0.5% cashback on all their eligible spending and are charged only EUR 2 worldwide for ATM withdrawals.
Apart from this, PayPal’s partnership with United, under which PayPal QR Code has been made available as a payment option for passengers on boarding flights of the latter, is another positive.
Notably, passengers will be able to make inflight purchases of snacks, drinks and other items by scanning a QR code in their PayPal apps, irrespective of Wi-Fi availability.
We believe that all these efforts will continue to expand PayPal’s footprint in the booming digital payment world.
Wrapping Up
PayPal’s robust solutions have been enabling it to maintain a deep and trusted relationship with merchants and consumers.
The company’s deepening focus on expanding its solutions portfolio is acting as a catalyst behind its top-line growth, owing to the increasing demand for cashless payments and mobile-commerce services worldwide.
Its two-sided platform enables it to develop and maintain direct financial relationships with both customers and merchants. The platform connects consumers and merchants, facilitating unique end-to-end payment experiences for both parties.
We believe that strong product offerings, along with a user-friendly payment platform, will continue to aid PayPal in winning partnerships with clients in the days ahead.
Zacks Rank & Stock to Consider
Currently, PayPal carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider stocks like Advanced Micro Devices (AMD - Free Report) and Analog Devices (ADI - Free Report) . While Advanced Micro Devices currently sports a Zacks Rank #1 (Strong Buy), Analog Devices carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Advanced Micro Devices has gained 51.8% in the past year. The long-term earnings growth rate for AMD is currently projected at 29.1%.
Analog Devices has gained 7.4% in the past year. The long-term earnings growth rate for ADI is currently projected at 12.3%.
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PayPal (PYPL) Boosts Digital Payment Efforts With New Card
PayPal (PYPL - Free Report) has unveiled a payment card to strengthen its technology-driven payment solutions portfolio.
The PayPal Cashback credit card, which is being issued by Synchrony, allows customers to gain more rewards, while shopping online and offline, and paying with PayPal.
The card offers a 3% cashback when paying with PayPal at checkout — online, mobile, or in-store with PayPal QR Code.
It also gives an unlimited 2% cashback on all other purchases made through Mastercard, wherever accepted.
The card users can enjoy the easy redemption of these rewards, which can be accessed any day. The cashback can be used to make purchases from retailers, make statement payments, or transfer funds to a linked bank account or debit card.
We believe that all these benefits will bolster the adoption rate of the underlined card. Also, the latest move will aid PayPal in gaining further momentum among customers.
PayPal Holdings, Inc. Price and Consensus
PayPal Holdings, Inc. price-consensus-chart | PayPal Holdings, Inc. Quote
Growing Digital Payment Initiatives
The latest move bodes well for the company’s growing efforts toward bolstering its card offerings., It is also in sync with PYPL’s strengthening digital payment endeavors.
PayPal’s collaboration with Mastercard (MA - Free Report) remains noteworthy. With the help of this collaboration, the former has been able to expand the customer reach for its PayPal Business Debit Mastercard, which is ideal for small businesses, and does not carry any monthly fees or foreign exchange fees.
Further, card users get unlimited 0.5% cashback on all their eligible spending and are charged only EUR 2 worldwide for ATM withdrawals.
Apart from this, PayPal’s partnership with United, under which PayPal QR Code has been made available as a payment option for passengers on boarding flights of the latter, is another positive.
Notably, passengers will be able to make inflight purchases of snacks, drinks and other items by scanning a QR code in their PayPal apps, irrespective of Wi-Fi availability.
We believe that all these efforts will continue to expand PayPal’s footprint in the booming digital payment world.
Wrapping Up
PayPal’s robust solutions have been enabling it to maintain a deep and trusted relationship with merchants and consumers.
The company’s deepening focus on expanding its solutions portfolio is acting as a catalyst behind its top-line growth, owing to the increasing demand for cashless payments and mobile-commerce services worldwide.
Its two-sided platform enables it to develop and maintain direct financial relationships with both customers and merchants. The platform connects consumers and merchants, facilitating unique end-to-end payment experiences for both parties.
We believe that strong product offerings, along with a user-friendly payment platform, will continue to aid PayPal in winning partnerships with clients in the days ahead.
Zacks Rank & Stock to Consider
Currently, PayPal carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider stocks like Advanced Micro Devices (AMD - Free Report) and Analog Devices (ADI - Free Report) . While Advanced Micro Devices currently sports a Zacks Rank #1 (Strong Buy), Analog Devices carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Advanced Micro Devices has gained 51.8% in the past year. The long-term earnings growth rate for AMD is currently projected at 29.1%.
Analog Devices has gained 7.4% in the past year. The long-term earnings growth rate for ADI is currently projected at 12.3%.