PayPal, which has long dominated online payments and peer-to-peer payments via its Venmo app, has launched its largest-ever marketing investment to promote using PayPal in person.
The campaign, starring Will Ferrell, highlights PayPal’s new 5% cash-back rewards program when paying with the PayPal Debit Mastercard. The comedian is seen shopping at a supermarket, a fashion boutique, and a lemonade stand while using his PayPal debit card and intermittingly singing Fleetwood Mac’s hit, “Everywhere.”
Under PayPal’s enhanced rewards program, PayPal Debit MasterCard users choose a monthly category of spending, such as groceries or clothing, to receive 5% cash back on up to $1,000 in selected category spend per month. The rate is aggressive considering that a report from purchase rewards firm Valuedynamx found only 24% of debit cardholders earned cash-back rewards in 2023, compared with 74% of credit cardholders.
Users can also stack cash-back offers on top of their monthly category by saving offers in the …