PayPal Holdings on Thursday launched a new advertising campaign around a new sweepstakes promotion with up to $10 million in total prize money. PayPal stock fell amid the news on Thursday, continuing its retreat in 2025.
The advertising campaign and promotion aim to drive consumers to PayPal's online checkout option and payment plans.
"Every day for 100 days, 1,000 lucky winners will have their purchases of up to $100 covered simply by paying with PayPal Checkout," the company said in a news release. Customers can win up to five times, PayPal said.
The digital payments firm called the promotion its "biggest sweepstakes ever." The ad campaign features comedian Will Ferrell.
Fintech Stocks Down In 2025
On the stock market today, PayPal stock fell more than 6% to 59.87. In 2025, PayPal stock has retreated 29%.
Many fintech stocks have underperformed in 2025, especially following President Donald Trump's tariff-based trade policies sparked worries over a possible U.S. recession.
Affirm Holdings has also been one of the big losers. Affirm stock fell over 10% on Thursday to 39.77. Affirm stock has pulled back 33% in 2025.
Both PayPal and Affirm compete in the "buy now pay later" market. With BNPL options, consumers pay off purchases in monthly installments, usually with lower interest payments than credit card companies.
At an investor day in February, PayPal told analysts that it aims to double the size of the company's BNPL business to nearly $60 billion in transaction volume over the next three years.
Meanwhile, first quarter earnings for PayPal stock are due April 29.
San Jose, Calif.-based PayPal has evolved from an online checkout option to a mobile shopping and person-to-person payments app.
Also, worries over lost checkout market share to Apple and others continue to be a concern for PayPal stock.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
