A top brass at PayPal, pointed out that opening a separate card offers more financial flexibility.

The move is part of the company's big push to expand its un-pin to credit card portfolio.

Credit cards are important wallets for consumers. At an earnings call on Thursday, PayPal's CEO Dan Schulman said the company was making "an exciting and deliberate foray into the banking arena," with the debut of five new PayPal credit cards.

The line of cards is one of the biggest moves PayPal has made this year, positioning it as more of a consumer "brand," and less of a payment processor.

Schulman explained that the cards were aimed at consumers who shopped with PayPal on a monthly basis, but had no convenient way to repay a balance. The cards, which will offer a 5% cashback incentive in addition to credit, will be offered in three classes:

Private Label: Designed for businesses

EquiFi: A credit card designed for higher-income consumers

Gram: Full-service, loan-like feature targeted at people and small businesses

“It’s a big part of our business," Schulman said. "There's no difference when we put a card in somebody's wallet."

The cards are more than just another expansion of PayPal's money management capabilities.

The company's push to open up more loans is part of a bigger initiative, said Chief Financial Officer John Rainey, which includes a partnership with credit card powerhouse American Express.

"We are tapping into the credit card products we have in partnership with American Express," Rainey said.