PayPal Key, New Virtual Card Lets You Pay for Any Online Purchase

PayPal Key, New Virtual Card Lets You Pay for Any Online Purchase

PayPal is launching a new virtual card that will let you pay for any online purchase using your PayPal account. This will be a useful option for using PayPal even when an online merchants doesn’t have a PayPal checkout option. For example with this quarter, you would be able to use your Discover it card through PayPal for any purchase online and earn 5% cash back.

PayPal Key is a new product and is currently available for select customers only. It will be available to more customers in the near future. If you don’t see the PayPal Key option in your account or in the app, you’ll just have to wait.

PayPal Key

PayPal Key is a virtual card and a new way to use your PayPal account anywhere cards are accepted online. You can use PayPal Key like a card at any online merchant that accepts Mastercard – even those that don’t have a PayPal button. Here’s how PayPal Key works:

  • Choose a payment method from your PayPal Wallet
  • Receive a secure PayPal Key with its own virtual card number, expiration date and security code
  • Save the PayPal Key to your browser for faster checkout or use it as you would any card online
  • Take PayPal Key anywhere you shop online

PayPal Key is not a credit card so there’s no lengthy application or credit check. Plus, you won’t pay any set-up or usage fees.

You can add your PayPal Key to:

  • Web browsers (Google Chrome, Safari, Internet Explorer)
  • Venmo
  • Google Pay

Currently, PayPal Key does not work with Apple Pay or Samsung Pay.

You can use your PayPal Key to:

  • Shop at any U.S. and non-U.S. merchant that accepts Mastercard
  • Buy over the phone (just give the merchant your virtual card number, expiration date and security code)
  • Earn points in the same way you would with any card in your account

You can see more details here.

HT: bennguyen2

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