PayPal’s ever-expanding footprint is taking a step into the past with the launch of its first physical card. Issued by Synchrony, a longtime partner in several other ventures, the PayPal Credit card can be used both online and in stores.
The new offering pivots off PayPal Credit, which has long been available to customers shopping online. Eligible existing PayPal Credit customers will be notified about the option to upgrade, and the physical card will begin rolling out to U.S. customers in the coming weeks.
“PayPal Credit is one of our most popular products and customers have long been requesting the ability to use it on the go as they look for more choice and flexibility wherever they shop,” Scott Young, SVP, Global Head of Consumer Financial Services, at PayPal, said in a statement.
Forays into Physical Cards
Last year, PayPal expanded further into the physical payments space with the introduction of the PayPal Debit Card for use in brick-and-mortar stores—though it required consumers to maintain a balance in their PayPal account. The new card joins the PayPal Cashback Mastercard, giving consumers another way to pay in-store and online.
As an enticement, PayPal Credit is offering a limited-time travel offer: customers will pay no interest on eligible travel purchases made with the physical card through January 31, 2026, as long as the balance is paid in full within six months. In addition, special financing is available on PayPal purchases over $149, giving cardholders more ways to manage their spending.
“PayPal has been a trusted name in payments since it cut its teeth with eBay almost 20 years ago,” said Brian Riley, Co-Head of Payments at Javelin Strategy & Research. “Over the years, PayPal evolved to become a global force in payment acceptance, money movement, and credit.”
A Longstanding Alliance with Synchrony
As mentioned, the new card builds on the longstanding partnership between PayPal and Synchrony. The two companies signed an agreement in 2018 for Synchrony to serve as the exclusive issuer of the PayPal Credit online consumer financing program through 2028. Synchrony also backed the Venmo Credit Card—a subsidiary of PayPal—when it launched in 2020.
“PayPal’s recent announcement to issue their credit card with Synchrony is exciting and will find success in the market,” said Riley. “Synchrony is a top provider in U.S. payments, and like all Mastercard and Visa products, their acceptance is universal.”
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