PayPal has launched its first business debit Mastercard in the UK. The latest offering provides customers with instant access to their PayPal funds for making business purchases.
The new PayPal Business Debit card comes with a range of benefits including 0.5% cashback on every pound spent.
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Additionally, it carries no monthly fees or foreign exchange charges for international online or in-person purchases. Customers can use their PayPal card for ATM withdrawals with a flat £1 charge worldwide.
PayPal UK Small and Medium Business senior director Nicola Longfield said: “The new PayPal Business Debit card is the latest example of how the support we offer our small business customers extends far beyond processing payments.
“It gives small business owners a fast, easy way to use the money in their PayPal account both online and in person, wherever they are in the world.”
The launch of the business debit card is PayPal’s latest offering under its global partnership with Mastercard.
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By GlobalDataMastercard Digital Partnerships senior vice-president David Dechamps said: “People everywhere know and trust the familiar Mastercard brand, whether they’re paying in the physical or digital world.
“This new card offered by PayPal offers a convenient way for small business owners to pay using the simple, speedy and secure payment experience they’ve come to expect from Mastercard, using the channel of their choice, anywhere in the world.”
