PayPal’s Honey Begins Offering Cash Back

PayPal’s coupon service Honey is now offering cash back, giving U.S. customers another way to redeem Honey Gold points while online shopping.

PayPal announced the new program on Tuesday (Oct. 5), saying it will allow users who link their Honey and PayPal accounts to redeem Gold points for cash through PayPal, as well as credit for their next purchase when paying with PayPal or gift cards from participating stores.

“Cash back is a popular way consumers look for rewards, and we’re excited to extend this to new and existing Honey users in the U.S. to help them get more value out of their online shopping experience,” said Frank Keller, SVP of enterprise solutions and digital commerce at PayPal, in the press release. “Our goal is to develop products and tools that make it easier to shop smart, and introducing cash back delivers users even greater benefit and choice.”

Honey and PayPal tied the rollout to the advent of the holiday shopping season, in which eCommerce spending is projected to grow by up to 15% compared to last year, and shoppers will be seeking ways to save in time for the season.

Read more: PayPal’s Coupon Service Honey Adds Safari-Based Mobile Capabilities

Honey recently rolled out a new iOS Safari browser extension for mobile users in the U.S. With mobile eCommerce continuing to grow, Honey says this offering offers a seamless way to search for coupons and earn cash back.

The Honey extension for mobile Safari is part of the latest iOS15 app update. To use it, customers need a device with iOS15 and must download or update Honey using the App Store.

“Introducing Honey to iOS Safari for mobile is an exciting development, as we bring our powerful deal tech to even more users and help the growing community of mobile-first shoppers save time and money,” said Keller. “Honey helped find over $1 billion in potential savings on desktop browsers last year, and iOS for mobile is our newest innovation to give users more tools that help them shop smart.”