PayPal is joining the holiday scramble by offering to match prices on any items bought using the online payment service, joining retailers such as Best Buy Co. and Target Corp., which are extending similar promotions to lure shoppers.
Through Dec. 31, shoppers who make a purchase using PayPal and then find the same product advertised for a lower price elsewhere within 30 days can be reimbursed for the difference (up to $250 per item and $1,000 in total through the entire promotion).
Even airline tickets that drop in price are eligible for a match, within seven days of purchase.
Price-matching has emerged as a holiday weapon of choice among brick-and-mortar retailers eager to fight against online rivals such as Amazon and woo back shoppers who compare prices -- often right in the store aisle, using their smartphones.
With the promotion, PayPal is hoping to gain more traction among shoppers both online and in actual stores (the payment service is now accepted at participating retailers such as Home Depot, Guitar Center and Hollister).
PayPal is extending yet another perk to shoppers -- free shipping during the holidays for merchants that accept returns but don't cover the cost of postage. PayPal will send a pre-paid shipping label to customers that change their minds within 30 days of a purchase. Alternatively, the company will refund the return shipping cost directly to the shopper's PayPal account.