August 7, 2008, 12:00 AM

PayPal launches prepaid Visa card in the UK

PayPal Inc. has launched a reloadable cobranded Visa prepaid card in the United Kingdom. The PayPal Top-Up Card is issued by the Royal Bank of Scotland.

PayPal Inc. has launched a reloadable cobranded Visa prepaid card in the United Kingdom. The PayPal Top-Up Card is issued by the Royal Bank of Scotland.

Consumers can purchase the Top-Up card for £4.95 at the PayPal’s UK web site. Cardholders can add value online at PayPal at no charge or offline at post offices and PayPoint retail outlets throughout the UK. While the card is available to anyone, it primarily targets eBay sellers, who can use the card to store proceeds from sales. PayPal is the online third-party payment service from eBay Inc.

“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,” says Carl Scheible, managing director of PayPal UK. “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.”

The launch of the Top-Up card follows PayPal’s credit card, which was launched in the U.K. in 2006.

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