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EcommerceBytes-NewsFlash, Number 2395 - October 20, 2010 - ISSN 1539-5065    5 of 5

PayPal Announces New Bank Collaboration in Malaysia

By Ina Steiner
October 20, 2010

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PayPal announced its first bank collaboration in Malaysia. PayPal will power two new services on RHB Banking Group's Internet banking site, Top-Up and Send Money. RHB customers will be able to use their checking or savings account to instantly top-up a PayPal account. RHB's WorldMart shopping site will provide special PayPal merchant deals to users of the new top-up service.

RHB will also use PayPal's Pay Anyone product (part of the Adaptive Payments API) to let its customers send real-time payments from their bank accounts to any email address starting October 26, 2010. To send money, RHB customers need an Internet banking account, but do not need a PayPal account. The receiver can deposit the money into his or her PayPal account or open a new PayPal account to receive the money.

In May, PayPal entered into a strategic partnership with Maxis Berhad, the leading telecom operator in Malaysia, to bring mobile payment solutions to Maxis customers via a new "Maxis-PayPal Account."

About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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