First Data, PayPal partner for new funding method rollout

Friday 9 October 2009 08:51 CET | News

Global electronic commerce services provider First Data has signed a contract with PayPal to enable debit cardholders in First Datas STAR Network to link their STAR debit card to a PayPal account online.

By accessing the STAR Online Partner service, consumers can enroll for a PayPal account via their financial institution’s online banking website. After they register, they can add funds to their PayPal account with their debit cards and pay for online purchases without having to disclose debit card account details.

A 2008 Study of Consumer Payment Preferences conducted by Hitachi Consulting and the Bank Administration Institute (BAI) indicates that credit cards rank highest in terms of penetration levels among online buyers, followed by both debit cards and online payment services such as PayPal. eBay`s online payments business unit has also partnered Green Dot, a US retail based financial services provider, to allow US consumers to load money directly to their PayPal accounts using Green Dot’s MoneyPak.

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Keywords: First Data, PayPal, online funding, debit card, STAR, STAR Online Partner service, Hitachi Consulting, Bank Administration Institute
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce