The company’s new offering, announced Wednesday (Nov. 12), is designed to improve shopping for British consumers, letting them access the new PayPal+ loyalty program, along with PayPal’s debit and credit cards.
“This is the start of an exciting new chapter for PayPal in the UK. We’ve listened to our customers and reimagined our products into one unified solution, offering a smarter way to pay both online and in-stores,” Diego Scotti, general manager of PayPal’s consumer group, said in a news release.
“With PayPal+, we’ve flipped the script on loyalty. That means no fees where others charge, a new debit card that delivers 10 times as many points, and more ways to get rewarded for everyday spend, including buy now and pay later. This will redefine what value looks like with every payment.”
A report by Reuters noted that the relaunch comes nearly two years after PayPal restructured its operations in the UK following Brexit.
The company’s first ever loyalty program is now available to British customers before anyone else in the world. Consumers can sign-up to PayPal+ for free in the PayPal app and begin earning points on online and in-store purchases. Every 1,000 points equals the £10 to spend with PayPal, the release added.
Advertisement: Scroll to Continue
This week, PayPal also announced the expansion of its Pay-in-4 buy now pay later (BNPL) solution into Canada.
The company also recently reported that it is turning to AI as its account growth and consumer spending slow.
For example, PayPal is integrating its wallet into OpenAI’s ChatGPT. CEO Alex Chriss said during a recent earnings call that this collaboration will “expand payments and commerce in ChatGPT, including adding PayPal Holdings Inc. branded checkout for shoppers and payment processing for merchants using instant checkout.”
PayPal also introduced its own agentic commerce services, which Chriss said will let merchants sell via multiple AI platforms, OpenAI, Google and Perplexity among them.
Meanwhile, PYMNTS wrote earlier this week about the company’s role in helping small businesses find working capital. PayPal’s latest earnings showed that its capital programs are a key part of its merchant ecosystem.
“Drilling down, and per the filing, during the nine months ended Sept. 30 and in 2024, the company purchased approximately $1.6 billion and $1.2 billion in merchant receivables, respectively,” PYMNTS wrote.
