Payments News

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Rewards Credit Cards Gained a Fanatic Following—Now Banks Are Pulling Back

“The ultra-premium rewards of the kind that JPMorgan has championed have turned into financial albatrosses. Big banks calculated that giant rewards would make consumers spend more, earning the banks more interest and boosting their returns. They calculated wrong. Consumers have figured out how to game the system, spending just enough to earn generous sign-up bonuses—then abandoning the cards […]

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Discover and PayPal™ Collaboration Gives Cardmembers New Way to Redeem Rewards

“All eligible1 Discover cardmembers can easily pay with their Cashback Bonus or Miles using PayPal when they shop online and in apps2. Once cardmembers link their Discover card with PayPal, they can instantly redeem any amount of their rewards on eligible purchases at checkout. This latest feature stems from an ongoing collaboration between Discover and PayPal to give […]
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