Ebay-owned online payment provider PayPal is launching a pre-pay debit card with Visa and the Royal Bank of Scotland. The card, which launches today (August 1), can be used on the high street as well as online.
The PayPal Top-Up Card is a reloadable Visa card and can be used wherever the Visa symbol is displayed. PayPal says it is targeting the card at consumers who sell online, as it enables them to spend the balances stored on their PayPal account offline. Travellers and those who want a tighter control over their finances are also being targeted.
It costs £4.95 and PayPal claims it is the only card that can be topped up in three clicks through the PayPal online payment system. It can also be reloaded at Post Offices and PayPal retail outlets.
The launch of the Top-Up Card follows PayPal’s credit card, which was launched in 2006. Ebay bought Paypal in 2002 for $1.6bn (£0.8bn).