General Question

robdamel's avatar

Paypal debit card possible?

Asked by robdamel (791points) March 31st, 2011

An idea crossed my mind about a site like paypal, so imagine I owned Paypal for ease of explanation. Would there be anyway to distribute debit cards to directly use the money from the paypal account? How would I go about making this possible?

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7 Answers

marinelife's avatar

I don’t see why not. it is, in effect, a checking account.

How do you implement it? I don’t see how. They are unlikely to give you a finder’s fee for the idea, which they have probably already thought of.

robdamel's avatar

No no, I’m just thinking things up and wondering. Thanks for the answer.

Allie's avatar

I mean this in the nicest way, but it seems a bit pointless to me, to be honest. As it is right now, don’t you have to add money to your Paypal account from your bank account, or link it so that funds draw from your bank account when you use Paypal to make a purchase online? Wouldn’t having a Paypal card that drew money from your Paypal account be a bit redundant? That would mean you’d add money from your bank account to your Paypal account, then use yet another card to spend the money directly from the Paypal account. Too many steps.

ETpro's avatar

You would need to have all the cash reserves necessary to quality as an issuer of something such as Visa, MC, or Discover cards. I have a Paypal debit card. They use MasterCard. So yes, it is obviously possible if you qualify as an issuer. I use mine a lot, because it pays cash back with each CC type purchase.

robdamel's avatar

@Allie Yeah i was expecting someone to answer that. The point of this question was to find out if it was possible for a business website to have debit cards, and paypal was a good example without having to talk about the website. The business website does not have a link to bank accounts though.

@ETpro Excellent, definitely didn`t know about a paypal debit card. Thanks for the info.

ETpro's avatar

@robdamel You are welcome.

@Allie In Paypal’s case, lots of people (myself included) earn money directly into our Paypal account. Paypal offers an equivalent to a Merchant Account so you can take credit card payments online. You can also send a Paypal invoice, which people can pay with a credit card or bill to their bank account. Also lots of Ebay users get payments directly into their Paypal account.

joaovily's avatar

I thinks its a good question but its better wait

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