PayPal Holdings Inc. is adding a new card to bring its online credit product to physical stores as the company focuses on expanding its name recognition with in-person transactions.
The new PayPal credit card joins the San Jose, California-based company’s debit card, introduced more than two decades ago, and a separate 3% cash-back credit card. The new credit card, issued by Synchrony Financial, will launch with a six-month promotion offering no-interest financing for qualifying travel purchases including flights and hotels, according to a statement.
“PayPal Credit is one of our most popular products” and the new card will give customers “more choice and flexibility wherever they shop,” Scott Young, global head of consumer financial services, said in the statement. The physical card will be distributed to US customers in the coming weeks, PayPal said.
PayPal’s push to bolster its brand at physical check-out counters fits into a broader strategy of sustained, profitable growth. That’s a change from when analysts criticized the firm for pursuing growth at the expense of profit, before Alex Chriss took over as chief executive officer with the aim of unifying the once-sprawling business.
In addition to the credit-card announcement, PayPal has invested in key areas such as stablecoin technology, collaborated with competitors to extend its reach and launched an advertising business.
–By Paige Smith (Bloomberg)






