Honey announced the introduction of cashback through PayPal, a new option for US users to redeem Gold reward points earned while shopping online.
Users who link their Honey and eligible PayPal accounts will be able to redeem Gold points for cash through PayPal, providing more choices to save and spend how they want.
This holiday, eCommerce spending is expected to grow by up to 15 percent compared to 2020 and shoppers will be looking for added ways to find savings in time for the upcoming holiday season.
Honey’s new cashback offering builds on its existing range of shopping tools and rewards that help users save time and money.
Now, when users earn Gold points on select purchases, they will have the option to redeem those points for cashback that will be available through their eligible PayPal account.
Users will also have the choice to redeem their Gold for a shopping credit to use on their next eligible purchase when paying with PayPal, or for a gift card to participating stores.
Cashback with Honey can be earned in addition to other existing credit card and reward programs users may be part of.
“Cashback is a popular way consumers look for rewards, and we’re excited to extend this to new and existing Honey users in the US to help them get more value out of their online shopping experience. Our goal is to develop products and tools that make it easier to shop smart and introducing cashback delivers users even greater benefit and choice,” said Frank Keller, SVP Enterprise Solutions and Digital Commerce, PayPal.
Honey Continues To Grow
Honey is also expanding its deal-seeking technology on mobile with a new iOS Safari browser extension for US users.
As mobile commerce sales continue to grow, the new offering gives users a seamless solution to search for coupons and earn cashback while shopping on some of their favorite sites from the ease of their mobile device.
The extension for mobile Safari comes as part of the latest iOS15 app update. To shop smart, users will need a device with iOS15 and to download or update Honey in the app store.
PayPal acquired Honey in 2019 to transform the shopping experience for PayPal’s consumers while increasing sales and customer engagement for its merchants.
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