PayPal wants to keep customers coming back to its payments platform — and so it’s rewarding those who use it the most with a new program called ‘PayPal Select’ that is launching this week in the US.
The program will give loyal PayPal customers access to what the company says are the “best offers” from leading online retailers, and first dibs in the customer service queue whenever they have questions. Additional benefits will be revealed “over time” as the program matures. You will only know if you’re a qualifying customer when PayPal emails you with a welcome to the program, or issues an invitation via your next transaction notification.
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Once you’ve signed up for it, the PayPal Select status will last for one year and subject to renewal based on the company’s decision (probably determining whether you have remained a loyal customer throughout). As other payment providers increasingly turn up the heat on PayPal — with the most recent one being Visa after it launched a new payment option — the company needs to find a way to keep its customers, and rewarding them seems to be the most obvious route to take.