PayPal’s credit card will offer up to 3% cashback

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unveiled its upgraded credit card, which will now offer users more cashback, based on how they shop. As before, users will still enjoy unlimited 2% cashback on everything they purchase, wherever a Mastercard is accepted. However, if you pay with PayPal, you’ll get three percent unlimited cash back. This applies to online, mobile and (with PayPal QR code) payments.

The new PayPal Cashback Mastercard still has no annual fee and you will now get daily cashback, rather than having to wait for a monthly statement. PayPal says it has redesigned the card user interface on its app and on the web. It promises a more streamlined way to access rewards and make payments.

Existing users will automatically gain access to the upgraded card, while newcomers will receive a $100 bonus on their first $500 spent. The new PayPal Cashback Mastercard will be available soon, but be sure to read the fine print before applying.

Offering more cashback to customers should help PayPal better compete against competing businesses. The also has no annual fee. It offers a 3% discount on Apple Store purchases, 2% on Apple Pay purchases and 1% on other purchases.

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