PayPal launches pre-paid cash card

PayPal launches pre-paid cash card

PayPal has launched a 'pre-paid cash card' that Americans can buy in-store and use to top up their accounts for online purchases.

The eBay unit has developed its PayPal My Cash Card with pre-paid specialist InComm for Americans who don't have bank accounts or cards, or do not want to use them online.

Available in more than 30,000 retail locations, including Fred's Super Dollar and Dollar General stores, the 'card' is a token that users exchange for between $20 and $500 in cash at the point-of-sale.

The tokens contain a code that users enter at the PayPal My Cash Card site to load the funds directly to their account which can then be used to make purchases across the Web.

In a blog post, Patrick Gauthier, head, product strategy, PayPal, says: "The PayPal My Cash Card is perfect for consumers who prefer to use cash - but want flexibility to spend their money however they want to spend it."

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