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PayPal recently 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 in the PayPal app. PayPal Rewards connects PayPal's merchant offers, cash back savings, and shopping products into one experience.
Consumers can earn PayPal Rewards points and save money through cash back and discounts at participating retailers. The rewards program will build upon the nearly $200 million PayPal consumers have already saved this year so far through PayPal Honey-enabled cash back and discounts.
"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."
Members can combine rewards earned across multiple PayPal products, all housed in a designated portion of the PayPal app. There will be multiple ways to earn rewards, including personalized engagement within the app.
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.
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