Paypal's launch of credit card seems strange - here's why it makes sense
Paypal has decided to go 'vintage' by moving from online to offline with a new credit card.
We all know Paypal as the massive digital payments platform. They have around 392 million users globally, with around 9.1 million Aussie users.
Last year, Paypal copied Afterpay with its pay-in-4 option. But strangely, they've now decided to enter the declining credit card space.
This means you’ll be able to use Paypal to shop in-store, which you can already do with buy now pay later platforms like Afterpay and Zip.
When it comes to the payments space, there are many ways for consumers to move money around.
Despite this move not making much 'logical' sense, it's all part of Paypal's strategy to become your one-stop payment shop.
Paypal would prefer to have a small slice of a declining credit card industry than no slice at all. Plus, this enables Paypal to get into physical stores, where many of its competitors are.
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