PayPal pushes into in-person payments with cashback rewards, Apple integration

Quick Summary:

:PayPal is expanding into U.S.point-of-sale payments by integrating its debit card with Apple's mobile wallet and offering 5 per cent cashback rewards, as the global online payments giant seeks direct competition with tech companies and banks.

The bid to grab a slice of in-person purchases at stores, cafes and restaurants is part of an ambitious turnaround strategy by new CEO Alex Chriss who joined the company from Intuit last year.

Chriss has called 2024 a "transition year" for PayPal, and has promised to grow revenues beyond transaction-related volume.

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Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Payments Apple Cent Rewards Paypal Chriss Mobile Products Card Year Debit

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-05 @ 20:05:48 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 501 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 22376832

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About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 58 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 36 minutes ago

Coverage Areas: Singapore

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #27

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