PayPal's new rewards program includes Honey shopping discounts
The company bought Honey three years ago.
PayPal is finally doing more with its Honey acquisition. The payments giant has launched a unified PayPal Rewards program that merges Honey's cash back and discount-finding features with store offers and other PayPal-specific perks. You now have a single place to manage and use all the service's money-saving features. This will include a range of "card products" in the future, the company said.
The Rewards program is available in the US today, and you can check it out in a dedicated section of PayPal's mobile app. If you've earned Honey Gold points, they'll become PayPal Rewards points you can access in one place by linking accounts.
PayPal bought Honey in 2019 for $4 billion, representing the company's largest-ever acquisition at the time. Not much has changed for users, though. While there was a name change to PayPal Honey, the functionality largely remained the same — you still don't need a PayPal account to sign up. While the new rewards program doesn't mandate using PayPal, it at least gives you an incentive to link accounts.
The move might not have much of a practical impact if you were already taking advantage of these deals before. It might be easier to keep track of them, however. There's also little doubt PayPal hopes you'll try Honey or other money-saving services if you hadn't considered them before.
