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PayPal (PYPL) Launches Credit Card to Offer 2% Cashback
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PayPal (PYPL - Free Report) yesterday launched PayPal Cashback Mastercard in partnership with Synchrony Financial (SYF - Free Report) . The card offers 2% cash back on every purchase.
The move expands PayPal’s ongoing relationships with Mastercard (MA - Free Report) and Synchrony Financial. PayPal and Mastercard have been working together for 10 years. They run a multi-year PayPal Extras Mastercard co-branded consumer credit card program. MasterCard is a "clear and equal" payment choice in PayPal’s wallet.
PayPal and Synchrony Financial have been partners since 2004 and offer credit card options for online and brick-and-mortar purchases.
Shares of PayPal have gained 56.1% year to date, substantially outperforming the industry’s 18.1% rally.
Benefits for PayPal Users
The card, designed entirely for PayPal members, offers 2% cash back on any purchase, every day, wherever Mastercard is accepted. The card does not demand any annual fee, limit or expiration of rewards received, redemption minimums, limits on rewards spending methods and fraud liability.
It gets automatically added to PayPal wallet upon activation and cash rewards are added directly to PayPal balance. Users receive PayPal Purchase Protection for free. Traditional Mastercard benefits including purchase protection, identity theft resolution assistance and extended warranty coverage persist.
We believe that the move is part of PayPal’s broader goal of partaking into daily financial activities of customers.
This is why PayPal is increasingly forging strategic partnerships. In the past 18 months, the company has inked around 24 deals with technology and financial firms such as Visa (V - Free Report) , JPMorgan Chase and Apple.
We expect the move to significantly boost PayPal’s Other value-added services revenues. In the recently reported quarter, these revenues increased 3% sequentially and 18% year over year. The company added 6.5 million new customers, taking the total active customer accounts to 210 million.
It also increased its full year guidance. The company now expects revenues between $12.78 billion and $12.88 billion compared with its earlier expectations of $12.52–$12.72 billion.
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today.
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PayPal (PYPL) Launches Credit Card to Offer 2% Cashback
PayPal (PYPL - Free Report) yesterday launched PayPal Cashback Mastercard in partnership with Synchrony Financial (SYF - Free Report) . The card offers 2% cash back on every purchase.
The move expands PayPal’s ongoing relationships with Mastercard (MA - Free Report) and Synchrony Financial. PayPal and Mastercard have been working together for 10 years. They run a multi-year PayPal Extras Mastercard co-branded consumer credit card program. MasterCard is a "clear and equal" payment choice in PayPal’s wallet.
PayPal and Synchrony Financial have been partners since 2004 and offer credit card options for online and brick-and-mortar purchases.
Shares of PayPal have gained 56.1% year to date, substantially outperforming the industry’s 18.1% rally.
Benefits for PayPal Users
The card, designed entirely for PayPal members, offers 2% cash back on any purchase, every day, wherever Mastercard is accepted. The card does not demand any annual fee, limit or expiration of rewards received, redemption minimums, limits on rewards spending methods and fraud liability.
It gets automatically added to PayPal wallet upon activation and cash rewards are added directly to PayPal balance. Users receive PayPal Purchase Protection for free. Traditional Mastercard benefits including purchase protection, identity theft resolution assistance and extended warranty coverage persist.
PayPal Holdings, Inc. Net Income (TTM)
PayPal Holdings, Inc. Net Income (TTM) | PayPal Holdings, Inc. Quote
The Bigger Picture
We believe that the move is part of PayPal’s broader goal of partaking into daily financial activities of customers.
This is why PayPal is increasingly forging strategic partnerships. In the past 18 months, the company has inked around 24 deals with technology and financial firms such as Visa (V - Free Report) , JPMorgan Chase and Apple.
We expect the move to significantly boost PayPal’s Other value-added services revenues. In the recently reported quarter, these revenues increased 3% sequentially and 18% year over year. The company added 6.5 million new customers, taking the total active customer accounts to 210 million.
It also increased its full year guidance. The company now expects revenues between $12.78 billion and $12.88 billion compared with its earlier expectations of $12.52–$12.72 billion.
PayPal has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
One Simple Trading Idea
Since 1988, the Zacks system has more than doubled the S&P 500 with an average gain of +25% per year. With compounding, rebalancing, and exclusive of fees, it can turn thousands into millions of dollars.
This proven stock-picking system is grounded on a single big idea that can be fortune shaping and life changing. You can apply it to your portfolio starting today.
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