PayPal enhances in-person payment capabilities with Apple Pay integration and 5% cashback rewards.

PayPal is enhancing its in-person payment capabilities by integrating its debit card with Apple Pay and offering a 5% cashback reward on select purchases. This initiative, led by new CEO Alex Chriss, aims to compete more directly with tech firms and banks. The strategy responds to the growing U.S. debit card market, which reached $4.55 trillion in 2021, as PayPal seeks to expand beyond online transactions and attract more in-store customers.

September 05, 2024
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