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PayPal's BNPL Cash Back Revolution | Fast Five Shorts · Omni Talk Retail

• 0:00
  PayPal
• 0:00
  is
• 0:00
  tying
• 0:01
  buy
• 0:02
  Now
• 0:02
  Pay
• 0:02
  later
• 0:03
  to
• 0:03
  Cash
• 0:04
  back,
• 0:04
  according
• 0:04
  to
• 0:05
  payments
• 0:05
  dive.
• 0:05
  PayPal
• 0:06
  holdings
• 0:06
  said
• 0:06
  Monday
• 0:07
  it's
• 0:07
  giving
• 0:08
  consumers
• 0:08
  a
• 0:08
  5%
• 0:09
  cash
• 0:09
  credit
• 0:10
  on
• 0:10
  Buy
• 0:10
  Now
• 0:10
  Pay
• 0:10
  later
• 0:10
  purchases
• 0:11
  online
• 0:12
  and
• 0:12
  in
• 0:12
  physical
• 0:13
  stores
• 0:13
  through
• 0:13
  year
• 0:14
  end
• 0:14
  as
• 0:14
  the
• 0:14
  company
• 0:14
  looks
• 0:15
  to
• 0:15
  expand
• 0:15
  its
• 0:15
  quote
• 0:16
  Omnichannel
• 0:17
  strategy.
• 0:18
  I
• 0:18
  love
• 0:18
  that
• 0:18
  we
• 0:18
  have
• 0:19
  to
• 0:19
  still
• 0:19
  quote
• 0:19
  omnichannel
• 0:20
  and
• 0:21
  and
• 0:21
  expand
• 0:21
  installment
• 0:22
  lending
• 0:22
  to
• 0:22
  more
• 0:22
  bricks
• 0:23
  and
• 0:23
  mortar
• 0:24
  mortar
• 0:24
  merchants.
• 0:25
  PayPal
• 0:26
  have
• 0:26
  used
• 0:26
  its
• 0:26
  first
• 0:26
  BNPL
• 0:27
  cashback
• 0:27
  promotion
• 0:28
  as
• 0:28
  a
• 0:28
  way
• 0:28
  to
• 0:28
  entice
• 0:29
  more
• 0:29
  shoppers
• 0:30
  to
• 0:30
  try
• 0:30
  the
• 0:30
  loans
• 0:30
  and
• 0:31
  to
• 0:31
  reduce
• 0:31
  card
• 0:31
  abandonment
• 0:32
  for
• 0:32
  retailers
• 0:32
  during
• 0:33
  the
• 0:33
  holiday
• 0:33
  shopping
• 0:34
  period.
• 0:34
  Michelle
• 0:35
  Gill,
• 0:35
  PayPal's
• 0:36
  general
• 0:36
  manager
• 0:37
  of
• 0:37
  small
• 0:37
  business
• 0:37
  and
• 0:38
  financial
• 0:38
  services,
• 0:39
  said
• 0:39
  earlier
• 0:40
  this
• 0:40
  week.
• 0:40
  And
• 0:41
  you
• 0:41
  are
• 0:41
  all
• 0:41
  aflutter
• 0:42
  coming
• 0:43
  out
• 0:43
  of
• 0:43
  Grocery
• 0:43
  Shop
• 0:44
  about
• 0:44
  bnpl.
• 0:45
  Why
• 0:45
  was
• 0:45
  that
• 0:46
  first
• 0:46
  of
• 0:46
  all?
• 0:47
  And
• 0:47
  second
• 0:47
  of
• 0:47
  all,
• 0:48
  why
• 0:48
  do
• 0:48
  you
• 0:48
  think
• 0:48
  PayPal's
• 0:49
  cash
• 0:49
  back?
• 0:50
  What
• 0:50
  do
• 0:50
  you
• 0:50
  think?
• 0:51
  I'm
• 0:51
  sorry,
• 0:51
  what
• 0:51
  do
• 0:51
  you
• 0:51
  think
• 0:52
  PayPal's
• 0:52
  cash
• 0:52
  back
• 0:53
  incentives
• 0:54
  say
• 0:54
  about
• 0:54
  shopping
• 0:55
  for
• 0:55
  the
• 0:55
  holidays?
• 0:56
  Yeah,
• 0:57
  I
• 0:57
  think
• 0:58
  one
• 0:58
  of
• 0:58
  my
• 0:58
  we
• 0:59
  said
• 0:59
  this
• 0:59
  in
• 0:59
  the
• 0:59
  Takeaways
• 1:00
  podcast,
• 1:00
  but
• 1:00
  for
• 1:00
  those
• 1:01
  who
• 1:01
  weren't
• 1:01
  there
• 1:01
  to
• 1:01
  catch
• 1:02
  that,
• 1:03
  one
• 1:03
  of
• 1:03
  the
• 1:04
  most
• 1:04
  surprising
• 1:05
  stats
• 1:06
  or
• 1:06
  data
• 1:06
  points
• 1:06
  from
• 1:07
  Grocery
• 1:07
  Shop
• 1:07
  for
• 1:08
  me
• 1:08
  was
• 1:09
  when
• 1:09
  I
• 1:09
  was
• 1:09
  sitting
• 1:09
  at
• 1:10
  a
• 1:10
  dinner
• 1:10
  with
• 1:11
  a
• 1:11
  mass
• 1:11
  retailer
• 1:12
  and
• 1:13
  this
• 1:14
  individual
• 1:14
  told
• 1:14
  me
• 1:15
  that,
• 1:15
  you
• 1:15
  know,
• 1:15
  they
• 1:16
  created
• 1:16
  a
• 1:16
  BNPL
• 1:17
  program
• 1:18
  for
• 1:18
  their
• 1:19
  customers
• 1:19
  that
• 1:19
  they
• 1:20
  thought
• 1:20
  was
• 1:20
  going
• 1:20
  to
• 1:21
  be
• 1:21
  for
• 1:21
  the
• 1:21
  things
• 1:22
  that
• 1:22
  that
• 1:23
  PayPal
• 1:23
  is
• 1:23
  talking
• 1:23
  about
• 1:24
  here
• 1:24
  for
• 1:24
  the
• 1:24
  holiday
• 1:25
  shopp,
• 1:26
  for
• 1:26
  the
• 1:26
  investment
• 1:26
  in
• 1:27
  a
• 1:27
  patio
• 1:28
  set,
• 1:28
  you
• 1:28
  know,
• 1:28
  come
• 1:29
  the
• 1:29
  summertime.
• 1:30
  But
• 1:31
  what
• 1:31
  they
• 1:31
  were
• 1:31
  seeing
• 1:31
  the
• 1:32
  most
• 1:32
  sales
• 1:33
  from
• 1:34
  this
• 1:34
  BNPL
• 1:35
  platform
• 1:36
  were
• 1:36
  in
• 1:36
  areas
• 1:37
  like
• 1:37
  fresh
• 1:37
  products,
• 1:38
  essentials,
• 1:39
  things
• 1:39
  that
• 1:40
  people
• 1:40
  need
• 1:41
  to
• 1:41
  spend
• 1:41
  money
• 1:42
  on
• 1:42
  day
• 1:42
  to
• 1:42
  day,
• 1:43
  not
• 1:43
  these
• 1:43
  big
• 1:44
  purchases.
• 1:45
  So
• 1:45
  I
• 1:45
  think
• 1:46
  that
• 1:46
  was
• 1:46
  a
• 1:46
  very
• 1:47
  telling
• 1:47
  stat
• 1:48
  for
• 1:48
  me
• 1:48
  about
• 1:48
  the
• 1:49
  future
• 1:49
  of
• 1:50
  BNPL
• 1:51
  and,
• 1:51
  and
• 1:51
  about
• 1:51
  the
• 1:52
  current
• 1:52
  state
• 1:52
  of
• 1:52
  the
• 1:52
  consumer.
• 1:53
  And
• 1:53
  I
• 1:53
  think
• 1:53
  on
• 1:54
  one
• 1:54
  hand
• 1:54
  what
• 1:54
  PayPal
• 1:55
  is
• 1:55
  doing
• 1:55
  is
• 1:55
  great
• 1:56
  because
• 1:56
  it's
• 1:56
  allowing
• 1:57
  individuals
• 1:57
  who
• 1:58
  can't
• 1:59
  get
• 1:59
  access
• 1:59
  to
• 1:59
  a
• 1:59
  credit
• 2:00
  card,
• 2:00
  they
• 2:00
  don't
• 2:00
  have
• 2:00
  the
• 2:00
  credit,
• 2:01
  they
• 2:01
  are
• 2:01
  living
• 2:02
  month
• 2:02
  to
• 2:02
  month
• 2:02
  and
• 2:02
  they
• 2:03
  need
• 2:03
  some
• 2:03
  way
• 2:03
  to
• 2:03
  make
• 2:04
  their,
• 2:04
  their
• 2:04
  paycheck
• 2:05
  stretch.
• 2:05
  It
• 2:05
  is
• 2:05
  allowing
• 2:06
  them
• 2:06
  to
• 2:06
  be
• 2:06
  able
• 2:06
  to
• 2:07
  afford
• 2:07
  to
• 2:07
  feed
• 2:07
  families.
• 2:09
  And
• 2:09
  I
• 2:09
  think
• 2:09
  that
• 2:09
  the
• 2:10
  cashback
• 2:10
  thing
• 2:10
  is
• 2:11
  an
• 2:11
  interesting
• 2:11
  incentive
• 2:12
  here
• 2:12
  because
• 2:12
  typically
• 2:12
  that's
• 2:13
  something
• 2:13
  we
• 2:13
  see
• 2:13
  from
• 2:14
  a
• 2:14
  credit
• 2:14
  card.
• 2:14
  That's
• 2:14
  something
• 2:15
  that
• 2:15
  we
• 2:15
  see,
• 2:15
  you
• 2:15
  know,
• 2:15
  that's
• 2:16
  a
• 2:16
  reason
• 2:16
  to
• 2:16
  get
• 2:16
  a
• 2:17
  Chase
• 2:17
  Card
• 2:18
  over
• 2:18
  an
• 2:18
  American
• 2:18
  Express.
• 2:19
  So
• 2:19
  I
• 2:19
  think
• 2:20
  this
• 2:20
  is
• 2:20
  going
• 2:20
  to
• 2:21
  make
• 2:21
  PayPal's
• 2:22
  buy
• 2:22
  now
• 2:22
  pay
• 2:22
  later
• 2:23
  very
• 2:23
  sticky
• 2:24
  because
• 2:25
  consumers
• 2:25
  are
• 2:25
  going
• 2:25
  to
• 2:25
  get
• 2:26
  some
• 2:26
  of
• 2:26
  those
• 2:26
  same
• 2:26
  benefits
• 2:27
  that
• 2:27
  they
• 2:27
  would
• 2:27
  get
• 2:27
  toward
• 2:28
  a
• 2:29
  credit
• 2:29
  card,
• 2:30
  but
• 2:30
  now
• 2:31
  with
• 2:31
  Buy
• 2:31
  Now
• 2:31
  Pay
• 2:32
  later
• 2:32
  and
• 2:32
  makes
• 2:32
  them
• 2:33
  much
• 2:33
  more
• 2:33
  loyal
• 2:34
  to
• 2:34
  using
• 2:34
  PayPal's
• 2:35
  version
• 2:35
  of
• 2:35
  buy
• 2:35
  Now
• 2:35
  Pay
• 2:36
  later
• 2:36
  over
• 2:36
  anything
• 2:37
  else
• 2:37
  because
• 2:38
  they
• 2:38
  get
• 2:38
  that
• 2:39
  money
• 2:39
  back
• 2:39
  in
• 2:39
  their
• 2:39
  pocket
• 2:40
  and
• 2:40
  that's
• 2:40
  where,
• 2:40
  that's
• 2:40
  the
• 2:41
  situation
• 2:41
  that
• 2:41
  they're
• 2:41
  in
• 2:41
  right
• 2:42
  now.
• 2:42
  But
• 2:43
  Chris,
• 2:43
  you've
• 2:43
  long
• 2:44
  been
• 2:44
  talking
• 2:44
  about
• 2:45
  this
• 2:45
  as
• 2:45
  a
• 2:45
  Buy
• 2:46
  now,
• 2:46
  pay
• 2:46
  later
• 2:47
  opportunity.
• 2:48
  What
• 2:48
  do
• 2:48
  you
• 2:48
  think
• 2:48
  of
• 2:49
  this?
• 2:50
  Yeah,
• 2:50
  I
• 2:50
  mean,
• 2:50
  I'm
• 2:51
  not,
• 2:51
  I'm
• 2:51
  not
• 2:51
  surprised
• 2:51
  that
• 2:52
  we're,
• 2:52
  you
• 2:52
  know,
• 2:52
  at
• 2:52
  this
• 2:53
  point
• 2:53
  at
• 2:53
  all.
• 2:53
  I
• 2:54
  mean,
• 2:54
  Adobe
• 2:54
  just
• 2:54
  out
• 2:55
  their
• 2:55
  numbers
• 2:55
  for
• 2:55
  buying
• 2:56
  BNPL
• 2:56
  in
• 2:57
  total
• 2:57
  for
• 2:57
  the
• 2:57
  industry
• 2:57
  yesterday
• 2:58
  in
• 2:58
  terms
• 2:58
  of
• 2:58
  what
• 2:58
  they're
• 2:58
  expecting
• 2:59
  online.
• 2:59
  And
• 2:59
  it's,
• 2:59
  you
• 2:59
  know,
• 3:00
  at
• 3:00
  record,
• 3:00
  record
• 3:00
  paces
• 3:01
  too.
• 3:01
  So,
• 3:02
  you
• 3:03
  know,
• 3:03
  this
• 3:03
  is
• 3:03
  actually
• 3:03
  probably
• 3:04
  one
• 3:04
  of
• 3:04
  the
• 3:04
  best
• 3:04
  shots
• 3:05
  I
• 3:05
  ever
• 3:05
  called.
• 3:05
  You
• 3:05
  know,
• 3:06
  when
• 3:06
  I
• 3:06
  first
• 3:06
  heard
• 3:06
  about
• 3:06
  BNPL
• 3:07
  back
• 3:07
  in
• 3:07
  2017,
• 3:08
  the
• 3:08
  first
• 3:09
  article
• 3:09
  I
• 3:09
  ever
• 3:10
  wrote
• 3:10
  for
• 3:10
  Retail
• 3:11
  Dive
• 3:12
  was
• 3:13
  talking
• 3:13
  about
• 3:14
  how
• 3:14
  I
• 3:14
  predicted
• 3:15
  a
• 3:15
  world
• 3:15
  in
• 3:15
  which
• 3:15
  you
• 3:16
  just
• 3:16
  described
• 3:16
  with
• 3:17
  that
• 3:17
  mass
• 3:17
  merchant,
• 3:17
  that
• 3:18
  people
• 3:18
  would
• 3:18
  start
• 3:18
  using
• 3:18
  it
• 3:19
  for
• 3:19
  everything,
• 3:20
  especially
• 3:21
  for
• 3:21
  the
• 3:22
  items
• 3:22
  that
• 3:22
  take
• 3:22
  up
• 3:22
  the
• 3:23
  majority
• 3:23
  of
• 3:23
  your
• 3:23
  monthly
• 3:24
  budget.
• 3:24
  So,
• 3:24
  yeah,
• 3:25
  the
• 3:25
  five.
• 3:25
  The
• 3:25
  other
• 3:25
  point
• 3:26
  I'd
• 3:26
  make
• 3:26
  too,
• 3:26
  this
• 3:26
  is,
• 3:27
  this
• 3:27
  is
• 3:27
  a
• 3:27
  really
• 3:28
  compelling
• 3:28
  deal.
• 3:29
  5%
• 3:30
  cash
• 3:30
  back.
• 3:30
  That's
• 3:31
  incredibly
• 3:31
  compelling.
• 3:32
  That's
• 3:32
  an
• 3:32
  incredible
• 3:33
  rate
• 3:34
  of
• 3:34
  return
• 3:34
  on
• 3:34
  your
• 3:35
  holiday
• 3:35
  shopping
• 3:36
  and
• 3:36
  you
• 3:36
  get
• 3:37
  the
• 3:37
  ability
• 3:37
  to
• 3:37
  defer
• 3:37
  your
• 3:38
  payments
• 3:38
  too.
• 3:38
  So,
• 3:39
  yeah,
• 3:39
  so,
• 3:39
  I
• 3:40
  mean,
• 3:40
  it
• 3:40
  just
• 3:40
  shows
• 3:40
  you
• 3:41
  that
• 3:41
  it's
• 3:41
  here,
• 3:41
  it's
• 3:41
  coming.
• 3:42
  You
• 3:42
  know,
• 3:42
  we
• 3:43
  called
• 3:43
  it
• 3:43
  eight
• 3:44
  years
• 3:44
  ago
• 3:44
  and
• 3:45
  yeah,
• 3:45
  not
• 3:45
  surprised
• 3:46
  one
• 3:46
  bit.