PayPal is splashing out on its first ever Super Bowl ad
Kyle Terada/USA TODAY Sports
It will also be the first major brand ad since PayPal became an independent company. The payments firm was spun out from eBay in July.
In a press release, PayPal's vice president of global brand marketing Greg Fisher said: "This ad is more than a commercial - it's our opportunity to introduce the world to PayPal's vision for the future of money - to empower people and businesses to move and manage money securely, efficiently and affordably. The launch of this ad is just the beginning of our new brand campaign designed to start a larger conversation about a reimagined financial world that must include everyone."
PayPal's ad will run during the first quarter of the game.
Ads for Super Bowl 50 have set advertisers back $5 million for a 30-second slot, according to next year's big game broadcaster CBS. That was up 11% on the highest price for a 30-second spot during this year's Super Bowl.
Last week Adweek revealed CBS has held back a few slots, hoping that last-minute advertisers will bid for "north of $5 million."
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