Paypal / Post Office Deal

I can exclusively reveal that Paypal, the ebay owned payment provider, is in early talks with the Post Office about creating a Paypal card in the UK.

The card is expected to be an optional extra with an admin charge of around £5 per year. It will allow Paypal users to withdraw small amounts of money or pay for postage directly from their Paypal accounts.

The Post Office would charge a small admin fee for every transaction/withdrawal from this card.

The card is not expected to launch until Q2/3 2007. It will please many ebay users who have become frustrated with the long withdrawal wait when using the payment provider.