Paypal users in 26 countries can now withdraw their funds to their credit, debit or prepaid cards – so long the cards are branded Mastercard or Visa.
New today, PayPal now offers account balance withdrawals to Visa-branded credit, debit, or prepaid cards in 26 international markets. This feature greatly improves the utility of PayPal accounts in these markets and is accomplished through an easy 3-step process.
This new feature is particularly valuable to PayPal account holders in markets where customers could use PayPal to send money, but had limited ways to receive or withdraw funds. A good example is Brazil. In the past, customers in Brazil could only withdraw funds via a paper check. Now, Brazilian account holders can withdraw money in a secure environment and have their funds available for online and offline purchases using their preferred Visa card.
It is also exciting for our Italian customers where local PostePay cards are widely used. The new withdrawal method gives them the freedom to easily move funds from their PayPal accounts to the payment cards they prefer to use online or offline.
This new functionality is available in: Argentina, Brazil, Bulgaria, Chile, Cyprus, Estonia, Gibraltar, Iceland, Indonesia, India, Israel, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malaysia, Malta, Philippines, Romania, San Marino, Slovakia, Slovenia, Turkey, UAE, and Uruguay.
Today’s news offers great opportunities for PayPal to become even more relevant to merchants in many of our international markets. We are constantly evaluating new functionality around the globe, so stay tuned and visit our PayPal Offerings Worldwide page for updates.
The new feature will cost $5 per withdrawal and will take 5 to 7 business days to be completed. It would also have a minimum of $10 per transaction and a daily maximum withdrawal limit of $500.