LOS ANGELES, Oct. 5, 2021 /PRNewswire/ -- Honey, today,
announced the introduction of cash back through PayPal, a new
option for US users to redeem Honey
Gold reward points earned while shopping online. Users who
link their Honey and eligible PayPal accounts will be able to
redeem Gold points for cash through PayPal, providing more choices
to save and spend how they want.
This holiday, e-commerce spending is expected to grow by up to
15 percent compared to 2020 and shoppers will be looking for added
ways to find savings in time for the upcoming holiday
season1. Honey's new cash back offering
builds on its existing range of shopping tools and rewards that
help users save time and money. Now, when users earn Gold points on
select purchases, they will have the option to redeem those points
for cash back that will be available through their eligible PayPal
account. Users will also have the choice to redeem their Gold for a
shopping credit to use on their next eligible purchase when paying
with PayPal, or for a gift card to participating stores. Cash back
with Honey can be earned in addition to other existing credit card
and reward programs users may be part of.
"Cash back is a popular way consumers look for rewards, and
we're excited to extend this to new and existing Honey users in the
US to help them get more value out of their online shopping
experience," said Frank Keller, SVP
Enterprise Solutions and Digital Commerce at PayPal. "Our goal is
to develop products and tools that make it easier to shop smart and
introducing cash back delivers users even greater benefit and
choice."
Honey is also expanding its deal-seeking technology on mobile
with a new iOS Safari browser extension for US users. As mobile
commerce sales continue to grow, the new offering gives users a
seamless solution to search for coupons and earn cash back while
shopping on some of their favorite sites from the ease of their
mobile device. The Honey extension for mobile Safari comes as part
of the latest iOS15 app update. To shop smart, users will need a
device with iOS15 and to download or update Honey in the app
store.
"Introducing Honey to iOS Safari for mobile is an exciting
development as we bring our powerful deal tech to even more users
and help the growing community of mobile-first shoppers save time
and money," said Keller. "Honey helped find over $1 billion in potential savings on desktop
browsers last year and iOS for mobile is our newest innovation to
give users more tools that help them shop smart."
1. Deloitte annual holiday retail forecast 2021
About PayPal
PayPal has remained at the forefront of the digital payment
revolution for more than 20 years. By leveraging technology to make
financial services and commerce more convenient, affordable, and
secure, the PayPal platform is empowering more than 400 million
consumers and merchants in more than 200 markets to join and thrive
in the global economy. For more information,
visit paypal.com.
Media Relations Contact
Gideon Anstey
gbanstey@paypal.com
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SOURCE PayPal Holdings, Inc.