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At TPG, we love stacking rewards when shopping online. Given the abundance of shopping portals and using the correct credit card for purchases, you should only earn 1 point per dollar spent online.
We’ve added another option for earning and redeeming points when shopping online. The new PayPal Rewards program by payment platform PayPal works partly like a shopping portal and partly like a “pay with points” platform.
Take a look at this new rewards program and see what it offers customers when shopping online.
Use the right card to maximize your rewards on your daily purchases. Try it now with his TPG app for free.
What is PayPal?
Before you get into the rewards program, let’s know what PayPal is.
PayPal is an online payment system with a website and app that can be used to pay merchants and send and receive money internationally and between different currencies. When using PayPal, you can add bank accounts, debit cards, and credit cards as payment methods and choose which one to use for each transaction.
Choosing the payment method you use is great when you get a quarterly spending bonus on your purchases with PayPal, helping you earn as many points as possible during your purchases. But you can use shopping portals like Rakuten to add extra points or cash back on your transactions.
PayPal Rewards Program
Until now, PayPal was just another payment method for online shopping. However, as of October 17, PayPal Rewards allows you to earn and redeem points through PayPal when checking out online. You can now earn rewards through the Safari extension or mobile app. The Safari extension is an update to the PayPal Honey browser extension.
When using the PayPal app, you cannot click through other shopping portals before making a purchase. PayPal’s Honey browser extension acts like its own shopping portal, so it’s unlikely that PayPal Rewards can be combined with other portals such as Cashback Monitor, Rakuten, or airline shopping portals. So be sure to check which program offers the best returns when purchasing.
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Depending on the merchant, the rate of return varies from 1% to 4%, 5%, or up to 10%. This depends on merchants and promotional offers, which can change from day to day.
Related: A guide to maximizing your shopping portal for online purchases
Within the mobile app, you can see how many rewards you have earned and find merchants by category. Alternatively, you can search for merchants by name by clicking the magnifying glass at the top.
As of this writing, Sephora is offering 10% back on purchases made through PayPal Rewards. Bloomingdale’s is up to 8% cash back, while Walmart’s is only 1% cash back. This example shows that it’s worth checking merchants often, and that bonus earning rates can vary greatly from store to store.
You can find these deals by clicking the third icon at the bottom that looks like a price tag. There is no earning limit, so you can earn it with every purchase throughout the year.
Earnings redemption
There are no airline money transfer partners or a sweet spot for redemption with PayPal Rewards. Instead, the goal is flexibility and savings.
Once you earn your rewards, you can use them on your next purchase to offset the price. Additionally, you can redeem your rewards as cash back to your PayPal balance. .
So you can use your rewards or redeem your earnings for cash with PayPal checkout when shopping online.
Conclusion
Any way to earn and redeem points for online shopping is always welcome. By stacking shopping portals, the right credit cards, and now PayPal Rewards, there are multiple ways to double or triple when shopping online. The amount you can earn with PayPal’s new loyalty program depends on what a particular merchant offers on a given day, so your earning potential varies.
Once you’ve earned cash back, you can keep it in your Rewards profile and use it for future purchases or redeem it to your PayPal balance. From there, you can send money if you owe someone else money, or transfer it to your bank account and spend it however you like.
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