US-based Bancorp Bank’s payment solution
division has been named as the official new issuer of PayPal
prepaid Debit MasterCard cards.
The card works worldwide at all MasterCard
accepting point of sales, ATMs and online and offers a 1% cashback
reward if the card holder enrols on to the PayPal Preferred Rewards
Programme.
Go deeper with GlobalData
This is the latest move by PayPal to enter
the brick and mortar cards and payments space.
At the beginning of February, PayPal
announced a partnership with MasterCard to launch a contactless
payment card that enables customers to spend and withdraw money
from their PayPal account at POS terminals and ATMs.
The initiative means that a PayPal Access
Prepaid MasterCard holder who receives a PayPal payment can spend
or withdraw the money straight away with the card, without the need
to transfer the funds to a bank account.
In January, PayPal has signed up US
retailer Home Depot to trial its payment service that allows
customers to complete their purchases via PayPal mobile
payments.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThe trial was so successful that the
service will now be expanded.
