New 'PayPal Plus' rewards credit card launches
GE Consumer Finance has partnered with eBay and PayPal in the US to launch a new 'PayPal Plus' MasterCard-based credit card with a loyalty rewards programme for PayPal users.
Apart from the card's rewards features, PayPal Plus cardholders also benefit from extended purchase protection for purchases made via the PayPal web site, along with special financing offers, and integrated online account management and alerts.
Earning and burning PayPal Plus customers will earn 1 PayPal Plus Reward Point for every US$1 spent in purchases. Points can also be earned for the cardholder's other offline purchases using the MasterCard.
For every 2,500 points earned, the cardholder is sent a coupon for US$25 toward eBay.com purchases made through PayPal. Cardholders also qualify for a range of other benefits through MasterCard, including Platinum benefits for extra protection, cash access, and the option to link PayPal Plus to the PayPal Debit Card as a backup funding source.
Expanded relationship The new card is actually an expansion of the relationship originally formed in June 2004 when GE began offering 'PayPal Buyer Credit' (a private label, revolving credit line for registered PayPal customers).
The latest PayPal Plus credit card is part of a new multi-year agreement through which GE Consumer Finance also plans to launch an eBay-branded credit card. Under the expanded agreement, eBay is also providing promotional support for the new credit card through its web site.
Launch promotion PayPal users can apply for the card online, and new account holders are being incentivised with a 0% interest rate for purchases and balance transfers until January 2007. Cardholders also have access to exclusive financing offers from sellers on eBay, including deferred interest and no payments for specific periods of time, as long as they pay with PayPal Plus.
GE Money Bank is issuing the PayPal Plus credit card, as well as providing the necessary customer service, billing, and credit management.
For additional information: · Visit GECF at http://www.geconsumerfinance.com · Visit eBay at http://www.ebay.com · Visit PayPal at http://www.paypal.com