PayPal and WebBank have launched a new business credit card. The PayPal Business Cashback Mastercard is the first business credit card offered through PayPal. The card has no annual fee and rewards cardholders with 2% cashback on all purchases with no rewards earning caps or expiration.
WebBank and PayPal Launch Business Credit Card
PayPal has a new small business credit card. The PayPal Business Cashback Mastercard, issued by WebBank and powered by the Mastercard network, offers unlimited cash back rewards for no annual fee.
Industry-Leading Cash Back
The new PayPal Business Cashback Mastercard is among the industry’s leading cash back business credit cards with unlimited 2% cash back on all purchases. There are no limits to the cash back rewards earned – helping small business owners get rewarded as they make business purchases. The new business card is now available to applicants.
The unlimited 2% cash back with the new PayPal Business Mastercard is a slight improvement over the unlimited 1.5% back in rewards with the Chase Ink Business Unlimited or the Business Advantage Unlimited Cash Rewards from Bank of America.
Other Card Features
Other notable features of the new PayPal Business Cashback Mastercard include:
- Competitive APR, starting around 14% variable
- No annual fee
- No foreign transaction fees
- Free employee cards with separate account numbers
- Mastercard Business features, including Microsoft 365, Intuit QuickBooks, and TurboTax integrations, spending controls, and more.
- PayPal integration
“Provides Greater Value, More Choice”
“As small business owners continue to recover from the challenges of the past two years, having multiple financing options to address their capital needs is more important than ever,” said Bernardo Martinez, VP of Global Merchant Lending, PayPal, in a press release. “The PayPal Business Cashback Mastercard provides merchants greater value, more choice, and the increased flexibility they need to manage their business finances, offering among the best value available on no annual fee business credit cards today. This new solution continues PayPal’s commitment to supporting small businesses and offering options to help manage the day-to-day costs of operating their business.”
“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,” said Sherri Haymond, EVP Digital Partnerships, Mastercard. “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.”