PayPal launches prepaid card - ‘PayPal top up card'

PayPal, the secure online payment provider, is launching a new prepaid top up card, available nationwide from 1st August 2008. The PayPal Top Up card is a reloadable VISA card and can be used almost anywhere the VISA symbol is displayed, in high street stores as well as websites. It gives people control over their spending, allowing them to pay as they go. It's also ideal for consumers who do not have credit or debit cards, and want some way to spend their cash online.

The PayPal Top-Up Card is one of the most competitive cards in the market, costing just £4.95 to get started. Using the PayPal Top Up card will be convenient and practical with multiple ways to be topped up with money. It is the only prepaid card which can be topped up online in 3 clicks via PayPal and can also be reloaded offline at Post Offices and PayPoint retail outlets across the country. The card is particularly well suited for people who sell online, as it enables them to spend the balances stored on their PayPal account offline.

Carl Scheible, Managing Director of PayPal UK commented, "We are continuously looking to create new and innovative services for our customers. Over one in ten of our customers told us that they're looking for ways to manage their spending. The Top Up card allows people to control their spending and stick to a tight budget, for example by loading up a set amount of money each week. It's also a safe and simple way of helping people selling items on eBay to get access to their cash and spend it in shops wherever they see a VISA sign.

"We know that less than a quarter of online shoppers feel secure about entering financial details when shopping online. Our new card will give PayPal customers more confidence to shop online with retailers that don't currently accept PayPal. Security is at the heart of everything we do, and the card will be protected by Chip and PIN. If the card is lost, funds are secure, where a loss of cash is not. This is particularly appealing to people traveling or going on holiday as a pre-loaded card is more convenient than carrying cash or travellers cheques."

The PayPal Top Up Card is ideal for:

people who want to closely manage their budget
travelling abroad without the need to carry cash or travellers cheques
eBay sellers who want to have access to the funds in their PayPal account quickly and at ATMS
people with poor or no credit history
access to internet, telephone and mail order purchases for shoppers without credit or debit cards
keeping your cash safe, but to hand - can be protected by PIN

The Top Up Card follows the success of the PayPal Credit Card, launched in 2006, extending PayPal's reach in the offline world as well as maintaining its position as a leading online brand.

For more information, visit paypal.co.uk/topupcard