This is the second credit card PayPal has issued; it has offered another credit card through Synchrony since 2006. That card offers rewards, but they are not as straightforward as the new cashback benefits.

The card is only available to PayPal members, and it’s automatically added to users’ PayPal’s wallets, once approved. That means consumers can begin to use the card even before it arrives in the mail.

This is not the only credit card PayPal today offers, but it may become its most compelling in short order, especially given consumers’ preference for cash back cards.

The other cards include a PayPal Extras MasterCard for consumers that uses a more traditional 3-2-1 rewards points system, where you can earn more points for things like gas stations and restaurant purchases, as well as money spent on PayPal and eBay.

For those staying in countries outside the us you can check here if it is available it could be used in your country, and how it could be gotten. 

Etsy made an unexpected loss of $421,000 (£325,000) in the first three months of 2017 - having earned $1.2m a year earlier.

It also announced it was cutting 80 jobs - or about 8% of its workforce.

Etsy shares fell 17% in after-hours US trade after the announcements.

The e-commerce site said it had sales of $96.9m in the three months to March, an 18% increase from the year before. However that still came in below analyst estimates.

Etsy listed on the Nasdaq in 2015 after becoming known as the eBay for artisanal and handcrafted items.

But it has come under investor pressure to restructure with one of its shareholders, Black-and-White Capital, this week saying the firm needs to explore a sale.