The cards, which will not be linked to PayPal accounts, will initally be available to selected account holders, but will be launched to the general public from mid-May.

The card has an interest rate of 12.9%, with 0% interest on balance transfers for the first six months and no annual fee.

PayPal says it will offer instant decisions on online applications, as well ID theft insurance and guarantees against Internet fraud.

PayPal has more than 10 million accounts in the UK.