The new Paypal GPR card allows Paypal to now have a card-based offering so it can compete more effectively as a payments provider in the brick and mortar world and a leading acceptance brand. This offering also fits nicely with the company’s vision of having the ability to provide online, mobile and in-store capabilities to their 106 million active customers, both banked and unbanked (the primary target of this offering).
With Netspend serving as the program manager and processor for the new card, the product incorporates traditional Netspend offerings including payback rewards, an optional savings account, real-time account alerts via text message and online budgeting tools.
“The PayPal Prepaid MasterCard brings PayPal customers even more financial flexibility and choice for both online and brick-and-mortar purchases,” said Don Kingsborough, vice president and general manager of retail and prepaid at PayPal.
This card is issued by The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc.
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