The relaunch introduces the company’s first debit and credit cards in the UK and a new free loyalty programme called PayPal+, aimed at rewarding customers for their everyday spending.

Nearly two years after reorganising its operations following Brexit, PayPal is refocusing on British consumers with a £150 million investment to expand its products and strengthen its local presence.

This will also boost the company’s competitive edge with platforms such as Apple Pay, Revolut, and Klarna, all of which have grown fast in the UK’s digital payments sector.

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Through the new offering, nearly 30 million PayPal users in the UK can now earn points through PayPal+, redeemable at checkout across millions of online stores worldwide.

Every 1,000 points equals £10, and users can stack their PayPal+ points with other loyalty schemes. Membership is free, and the tier system, Blue, Gold, and Black, offers rewards, with the top tiers providing up to 50% more value, exclusive perks, and VIP experiences.

PayPal’s Debit Card, available for the first time in the UK, links directly to a user’s PayPal wallet and can be used globally without transaction fees.

Customers using the card while paying for everyday purchases will earn ten times more points. The debit card can also be added to smartphones for contactless payments, providing both convenience and flexibility.

The company is also expanding PayPal Credit to work in physical stores through virtual and physical cards. Customers can earn loyalty points whether they pay online or in-store, combining credit flexibility with added benefits. PayPal’s popular “Pay in 3” Buy Now, Pay Later option is active and now earns users PayPal+ points as well.

Beyond payments, PayPal is building brand partnerships to enhance its loyalty programme. Collaborations with Live Nation UK will give PayPal+ members early access to festivals and exclusive on-site experiences. More partnerships are expected to be announced soon.

Speaking on the relaunch, Diego Scotti, general manager of PayPal’s Consumer Group, said:

“This is the start of an exciting new chapter for PayPal in the UK. We’ve listened to our customers and reimagined our products into one unified solution, offering the smarter way to pay both online and in-stores. With PayPal+, we’ve flipped the script on loyalty. 

“That means no fees where others charge, a new debit card that delivers 10 times as many points, and more ways to get rewarded for everyday spend, including Buy Now Pay Later. This will redefine what value looks like with every payment.”

Tamer El-Emary, general manager of PayPal UK, added, “Our investment reflects a deep commitment to British consumers, businesses, and communities. We’ve listened to our customers and built products that rethink how people use PayPal every day.

“For years, millions of people have trusted PayPal when they shop online or on their phones. Now we want to bring everything they love about PayPal online to the high street. Simple, secure, and now with PayPal+ it’s more rewarding.”

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This initiative, named the Supercharged Sandbox, is backed by the government and powered by Nvidia, to allow companies to explore and develop AI-driven tools that could bolster financial services. 

From fraud detection to stock market surveillance, the range of use cases is wide, and the expectations are high.

The sandbox will provide selected firms access to Nvidia’s high-performance computing platform, equipping them with the infrastructure they need to experiment with advanced AI models. 

This is part of Prime Minister Keir Starmer’s government aim to enhance AI adoption across the UK, not just as a user of emerging technologies, but as a key driver of innovation.

Jessica Rusu, chief data, information and intelligence officer at the FCA, spoke on the goal: “This collaboration will help those that want to test AI ideas but who lack the capabilities to do so. We’ll help firms harness AI to benefit our markets and consumers, while supporting economic growth.”

The Department for Science, Innovation and Technology (DSIT) is also directly involved, reiterating that AI integration into the UK’s financial framework is a priority at the highest levels of government. The establishment of the UK Sovereign AI Industry Forum further strengthens this intention.

The types of projects expected to go through this sandbox range from AI-powered risk modelling and algorithmic trading tools to systems designed to combat authorised push payment fraud, where criminals trick victims into transferring money under false pretences. 

These are real-world challenges that the financial sector urgently needs to address.

Jochen Papenbrock, EMEA head of Financial Technology at Nvidia, stated: “AI is fundamentally reshaping the financial sector.” He highlighted how Nvidia’s tools will allow firms to innovate securely, saying: “The sandbox will provide firms with a secure environment to explore AI innovations using Nvidia’s full-stack accelerated computing platform, supporting industry-wide growth and efficiency.”

Financial institutions that usually face technological or regulatory bottlenecks when trying to deploy new tools may find this sandbox a lifeline. 

The programme includes regulatory guidance, access to refined datasets, and domain expertise to help firms understand the guardrails they must stay within.

This follows clear direction from Finance Minister Rachel Reeves, who has publicly pushed for a more aggressive stance on regulatory reform to fuel economic progress. She recently described cutting red tape and encouraging innovation as an “absolute top priority” for the new administration.

With global competition increasing in financial technology and AI deployment, Britain’s leadership sees this sandbox as a launchpad that could enhance how financial firms build, test, and scale AI-driven services.

The testing phase begins in October

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