PayPal to launch a credit card in the UK

Written by Wil Harris

April 13, 2006 | 17:05

Tags: #credit-card #mastercard

Companies: #paypal

PayPal, the popular online money service, is launching a dedicated credit card in the UK.

The card will be available in limited numbers to current PayPal users in the UK from the end of this month, and will be generally available from May onwards.

To tempt users across, PayPal will be offering 0% balance transfers for six months. It will be part of the MasterCard network.

However, it seems that the credit card won't offer much in the way of integration with a user's online account. Geoff Iddison is the CEO of PayPal Europe and he had this to say:

"Moving into other financial products is a natural development for the brand. The credit card is just the first of a range of new services that we have planned."

No word on whether there might be perks such as smaller fees for card users - transfers through the online service are currently subject to a hefty cut to the operator - but given the lack of such perks on a similar US scheme, it seems unlikely.

Tempted? Or wouldn't trust PayPal with your cash? Let us know over in the forums.
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