Redeem Points for cash or other redemption options. The receipt and redemption of Points is subject to the PayPal Rewards Program Agreement.

“Eligible Participant”: Available only to residents of any one (1) of the fifty (50) United States or the District of Columbia who: (1) are eighteen (18) years of age or older, (2) have a U.S. PayPal Balance account that remains in good standing (“Valid Balance Account”) through Reward fulfillment, and (3) are a PayPal Debit Mastercard® (“Card”) holder in good standing. Satisfaction of Eligible Participant criteria will be determined solely by PayPal.

How it Works: The PayPal Debit Card 5% cash back monthly category rewards feature allows Eligible Participants to earn PayPal Rewards Points (“Points”) on up to one thousand dollars ($1,000) of spend on Eligible Transactions with their Card (up to $50 cash equivalent once redeemed) in their selected monthly rewards category during a calendar month (the “Monthly Reward Category”). Eligible Participants must select a 5% cash back Monthly Reward Category in the PayPal App each calendar month to participate, and only one Category can be selected per month. Points will no longer be earned on purchases made in a Monthly Reward Category once the calendar month in which the Monthly Reward Category was selected ends, unless you select a Monthly Reward Category for the following month. Eligibility to earn Points within a specific Monthly Reward Category begins upon the date on which the Monthly Reward Category is selected in the PayPal App for that month only. Points will not be earned on transactions made prior to the selection of a Monthly Reward Category for a given month.

“Eligible Transaction(s)”: Eligible Transactions are U.S. Dollar purchases made in-store or online, including in PayPal checkout in your selected Monthly Reward Category, using the Card and finalized by the merchant during the month. The available Monthly Reward Categories are: Gas (including EV charging stations), Grocery, Restaurant, Clothing, Health and Beauty and other temporary or seasonal Monthly Reward Categories that we may offer from time to time. Categories are based on the Merchant Category Codes (“MCC Codes”) assigned to a merchant according to the kinds of products and services that merchant primarily sells. PayPal is not responsible for assignment of MCC Codes. Sometimes you may expect a purchase to fit within a selected Monthly Reward Category, but if the MCC Code assigned to the merchant, or by the merchant to a particular transaction, doesn’t fall into the MCC Codes designated for that Monthly Reward Category, your purchase will not be an Eligible Transaction.

Eligible Transactions do not include: (1) Monthly Reward Category purchases with the Card that are not finalized by the merchant as of the end of the calendar month in which the Monthly Reward Category was selected, (2) gift card or prepaid card purchases or reloading, (3) any purchase or portion of a purchase that involves a payment method other than the Card, (4) in-store cash withdrawals/cash back, (5) purchases tied to MCC Codes not included in the applicable Monthly Reward Category, and (6) purchases that have been cancelled, reversed, refunded or returned. Satisfaction of Eligible Transaction criteria will be determined solely by PayPal.

Reward Redemption: Points earned under the PayPal Debit Card 5% Cash Back Monthly Category Rewards Feature will be available in an Eligible Participant’s Account Overview section of their PayPal account to redeem for cash and other redemption options pursuant to the terms and conditions in the PayPal Rewards Program Agreement.

Miscellaneous: Participation in this Feature is subject to the PayPal User Agreement, the PayPal Rewards Program Agreement and the PayPal Balance Terms and Conditions. Any questions relating to this Feature will be resolved in PayPal’s sole discretion and its decisions related to the Feature will be final and binding.

The PayPal Debit Mastercard® is issued by The Bancorp Bank, N.A. (“Bancorp”) pursuant to a license by Mastercard International Incorporated and may be used everywhere Mastercard is accepted. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. Bancorp is issuer of the Card only and not responsible for the associated accounts or other products, services, or rewards from PayPal.

PayPal is a financial technology company, not a bank. The Card is linked to your PayPal Balance Account pursuant to the PayPal Balance Terms and Conditions.