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The PayPal Extras MasterCard co-branded consumer credit card is still in play with an announcement that the pair have inked a multi-year extension deal for the credit card program in the U.S. and Puerto Rico. With the PayPal Extras card people earn triple points when eating out or gassing up their car, double points when using eBay or PayPal, and 1 point per dollar on all other purchases.
With the PayPal Extras MasterCard, cardholders also get access to Buyer Protection for every purchase made through PayPal, whether its made on or offline. The card also comes along with EMV chip technology. The card is accepted everywhere the MasterCard logo is displayed.
Once approved, each cardholder is enrolled into the Rewards Program, and points can be redeemed for everything from gift cards and merchandise to airfares, hotel stays and rental cars. People can also cash out their points for cash back to their PayPal account if the are up for it.
A long history continues
PayPal and MasterCard partnered up a decade ago, with the PayPal Extras card designed to provide PayPal customers with a way to get more value, whether shopping in real time or online.
"We are proud to continue our long-standing relationship with PayPal through this program," said Craig Vosburg, president, North America, MasterCard. "In this increasingly digital world, we are providing PayPal cardholders with the most advanced and secure technologies, giving them the core guarantees and benefits they’ve come to expect from MasterCard, regardless of how and where they pay."
Synchrony Bank & PayPal
Synchrony Bank is the issuer behind the PayPal Extras MasterCard, and that extension was announced in 2016. With this deal Synchrony Bank kept managing PayPal's Dual Card credit portfolio in both the U.S and Puerto Rico. As is the case with MasterCard the two have been doing business for well over a decade, with an initial agreement being signed in 2004.