PayPal (NASDAQ: PYPL) has announced multiple long-term, strategic partnerships with a range of Germany’s favorite brands, as part of a major expansion into in-store payments.
The first resulting initiative – Deal Week – is available to “consumers across Germany today.”
Deal Week cashback from PayPal can be earned “on in-store purchases at the following German brands.”
On different days of the week, customers can earn “up to 10% cashback when they pay contactless in-store with the PayPal app.”
The offers recur every week, which means consumers “could earn hundreds of euros in cashback a month using PayPal in-store.”
This announcement follows the recent “unveiling of PayPal’s innovative new in-store payment experiences.”
PayPal’s contactless mobile wallet is “now available nationwide in Germany, before anywhere else in the world.”
The new contactless feature can be accessed “through the latest version of the popular PayPal App (both iOS and Android).”
Customers can pay safely and easily with a simple tap of their phone at any location that “accepts Mastercard contactless payments, as well as benefit from Deal Week offers, once activated in the PayPal app, at approximately 2,000 partner locations.”
As explained in a blog post, the PayPal App brings together “a consolidated view of both online and offline purchases for the consumer.”
The latest version of the PayPal App “enables consumers to pay in installments for in-store purchases with Ratenzahlung To Go.”
Described as being fast and flexible, customers can “apply directly in the PayPal App at any time.”
Ratenzahlung To Go is available “in 3, 6, 12 and 24-month installments, helping consumers spread the cost of in-store purchases to meet their needs (in addition to PayPal’s popular online Pay Later options).”
Joerg Kablitz, Managing Director of Germany, Austria & Switzerland, at PayPal said:
“Why pay with cash when cash doesn’t pay you back? We are determined to show Germany there’s a better way to pay in-store – with the safety and ease of our contactless wallet, with the flexibility of installments, and by helping put money back in your pocket with Deal Week. And now, some of Germany’s favorite brands – across clothing, footwear, DIY, furniture, and entertainment – have joined PayPal to revolutionize in-store payments.”
Joerg adds:
“This is PayPal’s biggest ever investment in product development for our customers in Germany. Based on the initial response, we think this could be the tipping point at which consumers and businesses embrace alternatives to cash.”
As mentioned in the announcement, there are “two independent Peek & Cloppenburg companies, headquartered in Düsseldorf and Hamburg.”
As stated in a release, this cooperation refers “to Peek & Cloppenburg B.V. & Co. KG, Düsseldorf, whose store locations can be found here.”
As clarified in the update, cashback will be issued in points which can “be redeemed for PayPal balance or used at PayPal online checkout.”
For over 25 years, PayPal claims that it has been at “the forefront of the digital commerce revolution.”
Creating experiences that make moving money, selling, and shopping simple, personalized, and secure, PayPal enables consumers and businesses in approximately “200 markets to join and thrive in the global economy.”