The new PayPal Business Cashback Mastercard® is one of the industry's leading cashback business credit cards, with no annual fee and 2% cashback on all purchases, with no cap on how much cashback can be earned, allowing small business owners to be rewarded as they make business purchases.
PayPal Holdings Inc. today announced the addition of a new business credit card to its suite of credit offerings in order to better meet the everyday financing needs of small business owners. The PayPal Business Cashback Mastercard, issued by WebBank and powered by the Mastercard network, is the company's first business credit card.
The PayPal Business Cashback Mastercard provides a simple way for businesses to pay for both routine and unexpected business expenses, while also earning cashback rewards on all purchases. Small businesses require a variety of tools to fund their day-to-day operating expenses in a flexible manner. According to the Federal Reserve Banks' 2022 Small Business Credit Survey, credit cards were the second most popular form of financing sought by small businesses. 1 PayPal Cashback for Business Mastercard provides the opportunity for SMB owners to qualify for a business credit card.
"Small businesses are a force multiplier for our economy, and it's critical to ensure that they have access to digital tools and solutions that support their needs and growth, The PayPal Business Cashback Mastercard is tailor-made to support small business owners navigating their day-to-day operations. Coupling dynamic, flexible payments technology with compelling rewards and resources, we're proud to team up with PayPal to deliver tremendous value and access to small business owners in the US."
-Sherri Haymond, executive vice president, Digital Partnerships, Mastercard.
PayPal's mission to democratize financial services for all – businesses and consumers – closely aligns to Concerto's corporate strategy, said Dan Duncan, CEO and co-founder, Concerto Card Company. Our goal is to provide the tools necessary for businesses to be successful – and the PayPal Business Cashback Mastercard helps both companies advance their respective missions.