Today, PayPal and Mastercard announced that they are continuing the global expansion of the PayPal Business Debit Mastercard. The debit card makes it easier for small businesses to have instant access to their PayPal funds and gives them unlimited 0.5% cash back[1] on all their eligible spending.
The PayPal Business Debit Mastercard is now available in five new European countries – Austria, France, Ireland, Italy and Spain – in addition to its existing availability in Germany, the United Kingdom and United States.
In the UK and Germany, the PayPal Business Debit Mastercard is most often used for purchasing digital marketing services and retail goods for inventory and supplies, whilst in the US, the card is most commonly used to purchase business services and everyday essentials like petroleum and cellular phone bills.
“Each day that goes by when small businesses don’t receive the revenues and support that they need, the risk of bankruptcies increase. As an industry, we must make it as easy as possible for small businesses to get access to their funds fast, and our global expansion of the PayPal Business Debit Mastercard does just that”, says Jacob de Geer, Vice President of Small Business Products & iZettle, PayPal.
The PayPal Business Debit Mastercard was first launched in the US in 2003, providing a cashback reward whenever it was used. Since then, PayPal has chosen to work with Mastercard to expand its business debit card offering to Germany and the United Kingdom, and now further to Austria, France, Ireland, Italy, and Spain.
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The key features of the PayPal Business Debit Mastercard include:
Instant access to PayPal funds for all business spending: Business owners can use their PayPal funds wherever Mastercard is accepted both online and in-person.
Unlimited and uncapped cash back: PayPal business customers will receive 0.5% cash back on all eligible purchases made with the card with no caps or limits.
No foreign exchange fees: PayPal business customers will benefit from no foreign exchange fees for international online or in-person purchases to help their business run better across borders
Flat €2 fee for ATM withdrawals anywhere in the world: Business owners can access cash worldwide 24 hours a day, seven days a week, with a flat fee of €2 for ATM withdrawals.
No monthly fees: The PayPal Business Debit Mastercard is free with no monthly fees for all business customers.
[1] Cash back may vary per country.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
