PayPal Expands In-Person Payments with Apple Wallet Integration and 5% Cashback Rewards

PayPal Expands In-Person Payments with Apple Wallet Integration and 5% Cashback Rewards

PayPal is marking a significant shift in its business strategy by venturing into the realm of in-person payments. Known primarily for its dominance in online transactions and peer-to-peer payments through its Venmo app, PayPal's latest initiative aims to capture a share of the physical retail market. This move is underpinned by the integration of its debit card with Apple Wallet and the introduction of a compelling 5% cashback reward program. Strategic Shift Toward In-Person Payments Historically, PayPal has excelled in online payments, facilitating secure transactions between buyers and sellers across the globe. However, with a growing emphasis on diversifying its offerings and tapping into the lucrative market of in-person payments, PayPal is pivoting its focus. The company's new strategy is driven by Alex Chriss, the new CEO who joined from Intuit last year. Chriss’s vision for PayPal includes expanding beyond digital transactions to include physical retail purchases, signali…