SAN JOSE, Calif.—PayPal is offering U.S. customers 5% cash back on purchases made through its Pay Later program, PYMNTS reported.
The limited-time promotion, running through the end of the year, aims to give buy now, pay later users extra flexibility and financial relief heading into the holiday shopping season, PayPal said.
“Our customers seek payment options that make holiday shopping easier and more rewarding,” Michelle Gill, general manager for small business and financial services at PayPal, said in a news release provided to PYMNTS. “With cash back on buy now pay later products, we’re giving them a smarter way to pay and more flexibility to shop the way they want. And for merchants, PayPal BNPL is a proven way to attract more shoppers and increase conversion during the busiest season of the year.”
PayPal said it will also launch its Pay Monthly option for in-store purchases in the U.S. in the coming weeks, giving shoppers another way to spread out payments and manage expenses over time, according to the company.