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EcommerceBytes-NewsFlash, Number 2836 - June 28, 2012 - ISSN 1539-5065    3 of 4

7-Eleven Convenience Stores to Carry PayPal Prepaid MasterCard

By Ina Steiner
June 28, 2012

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Convenience-store chain 7-Eleven will carry the PayPal Prepaid MasterCard card provided by NetSpend Holdings, a leading provider of "general-purpose reloadable" prepaid debit cards and related financial services. The PayPal card can be used for online and in-store purchases wherever Debit MasterCard is accepted, and can be used to withdraw cash from ATMs. Money can be loaded onto the card through direct deposit or at more than 130,000 reload locations through the U.S., including 7-Eleven locations.

The card must be linked to a PayPal account to enable cardholders to have full access to the card's online functionality and features, including online Payback Rewards, an optional savings account, real-time account alerts via text message, and online budgeting tools.

The PayPal Prepaid MasterCard card is being sold now and will be available at approximately 5,500 stores upon full rollout of the product this year.

NetSpend CEO Dan Henry said 7-Eleven would be the first major retailer to offer the PayPal prepaid card to consumers throughout the U.S. The 7-Eleven chain's executive vice president for merchandising, marketing and logistics Jesus Delgado-Jenkins said, "We are selling the PayPal prepaid card because the brand already resonates with many consumers who want more financial flexibility and alternatives to traditional retail banking."

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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