YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
PayPal has been quietly reaching out to customers to offer mainstream banking services.
New services include Federal Deposit Insurance Corp. insurance for their balances, a debit card that can be used to withdraw cash at ATMs and the ability to direct-deposit their paychecks.
However, PayPal doesn't have a U.S. banking license, and Visa and Mastercard only allow cards that run on their networks to be issued by such banks.
Instead, PayPal is working with a host of smaller banks to accomplish similar tasks.
Read more from Dow Jones Newswires.
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