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EcommerceBytes-NewsFlash, Number 2919 - October 23, 2012 - ISSN 1539-5065    5 of 6

eBay Makes It Easier to Fund PayPal Accounts with Cash

By Ina Steiner
October 23, 2012

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eBay's PayPal unit has partnered with MoneyGram to give users the ability to fund their PayPal accounts with cash at any of MoneyGram's 284,000 locations around the world, including China. PayPal users will also be able to withdraw cash from their PayPal accounts at MoneyGram's locations.

In addition to existing users, PayPal is targeting the service to people without a credit card or bank account - a mobile number or email will be all a user needs. PayPal expects to pilot the program in the U.S. in early 2013 and gradually roll it out in the U.S. and internationally.

PayPal said its bank partners would be able to offer "real-time money movement capabilities to be picked up at any MoneyGram location." And it said retailer partners would benefit from PayPal account holders to "access their cash to engage and shop more across all channels."

Moneygram is second-largest global money transfer company.

Mark Lavelle, Senior Vice President of Strategy and Business Development at PayPal, said, "Through this new initiative, more consumers will be able to take advantage of PayPal's digital wallet, and shop at places like eBay or many of the millions of merchants that accept PayPal."

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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