PayPal just unveiled a new 2% cash back MasterCard with no annual fee, no rewards expiration, no minimum redemption amount, and no rules about how card owners can use their rewards.

Other card benefits include PayPal’s security protections and perks from MasterCard like identity theft resolution, extended warranty coverage on purchases made with the card, and purchase protection. When consumers use the card to make PayPal purchases, they’ll also get PayPal Purchase Protection.

To get a new PayPal Cashback MasterCard, applicants must have a PayPal account. Once approved, the company adds the new card to the consumer’s PayPal wallet immediately. There’s no need to wait for the physical card to arrive in the mail to access the credit.

PayPal has over 210 million users. By logging into their PayPal account via their website or mobile app, PayPal account holders can redeem cash rewards, make card payments, access their transaction history, and manage the account. The company notes that customers who own a PayPal credit card use PayPal.com and the PayPal app three times more than they did before receiving the card.

Although they are well-known for facilitating online financial transactions, the new PayPal Cashback MasterCard isn’t the company’s only financial product. They have several cards that appeal to different demographics of PayPal users.

The PayPal Prepaid MasterCard allows users to load funds onto the card before spending money. There’s a $4.95 per month fee, but for people without a bank account, this card is an option that allows direct deposit of a paycheck. There’s no credit check required to get this card, but users must provide their social security number.

The PayPal Debit Mastercard is for people who own a business. It offers a 1% cash back reward on certain purchases made with the card. There aren’t any monthly fees, and the funds come directly from the user’s PayPal account. The company does a soft pull on the applicant’s credit to verify identity and check for red flag credit problems.

The other card offered by PayPal is their Extras Credit Card; a traditional credit card handled by Synchrony Bank. Cardholders can earn points with card use. Purchases earn between one and three points in rotating spending categories. The points are redeemable for gift cards, cash back to the affiliated PayPal account, or travel vouchers. Qualifying for this card involves employment verification and a credit check.

Mobile payment options like Samsung Pay, Apple Pay, and Android Pay are popular at point-of-sale transactions. PayPal’s plan to increase their share of that market includes giving consumers the cash back card they want.

PayPal believes that consumers will find a 2% cash back reward on all spending attractive. Recent market research conducted by Lightspeed Research indicates that consumers are most interested in a credit card with a consistent cash back rewards program.

In the past, credit cards offering 1% cash back on all purchases and 2-3% cash back for purchases in rotating categories like groceries and gasoline were a favorite. Now, consumers prefer a credit card option with a simpler cash back program that doesn’t require them to remember which rotating category earns the highest reward percentage.