Online payment service Paypal has brought out a new prepaid credit card, which could help many people to enjoy the convenience and ease of using plastic to make payments but without the risk of falling into debt as they might with a standard credit card.
An increasing number of people are enjoying the benefits of prepaid credit cards, which have to be loaded with credit before they are used. This means that the cardholder will only be able to spend money that has been loaded onto the card, and therefore cannot really get into debt with the prepaid card.
An official from Paypal said: “Our new card will give PayPal customers more confidence to shop online with retailers that don’t currently accept PayPal.” He continued: “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.”
There are a number of ways to reload the card with cash, such as via the Paypal website, at a post office, or through Paypal retailers. The card can be purchased through the Paypal website for a cost of £4.95, and will allow consumers to shop online and by phone, as with other plastic payment cards.
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