My Cash Card from PayPal: wiping off boundaries between online and offline payments
The way people manage their finances changes. Modern technologies influence the way we shop and the way we pay for what they buy. More and more people go online to avoid hustles of brick-and-mortar stores.
On November 13, PayPal announced release of PayPal My Cash Card. It is the first “fully branded cash loading token” launched by PayPal. This token can easily wipe off boundaries between online and offline payments. It converts cash into secure online funds, with which you can shop online.
My Cash Card is now available at more than 30,000 retailing points throughout the U.S. When person buys My Cash Card, he/she than has to log into My Cash Card website and load funds directly to their PayPal account with the help of PIN number on the back of the card. If user doesn’t have PayPal account he/she is offered to create one.
Currently My Cash Card is available for U.S. citizens only. If you wish to load your PayPal account, Unichange.me offers to buy PayPal using other e-currency (Perfect Money). All transactions are fast and secure.
My Cash Card is oriented to people of old school, who prefer dealing with cash. If person only has cash, or doesn’t trust to huge financial institutions or just doesn’t have credit or debit card, PayPal’s cash loading token is the best solution.
In August, PayPal proclaimed partnership with Discover Inc. This cooperation will bring cash loading tokens to the POS for millions of people. When the process of integration is completed, shoppers will have possibility to pay offline using PayPal account. No need to pull out your wallet, just type in your mobile number and a PIN.
On December 12, during the roundtable chat Hill Ferguson, PayPal’s VP of global product, announced that all these initiatives are an effort to create one-stop-shop for retail payments. PayPal has 117 million active users, and this technology helps offline users get online and vise verse to make financial transactions more secure and comfortable.
PayPal started out as an international payment service in 1990s. Later in 2002 it was acquired by eBay. As many other e-commerce/payment companies it has paid a lot of attention to mobile transactions. Their work resulted in record number of mobile payments, performed with PayPal, for the last several weeks. It is unclear whether our wallets will soon go extinct, due to PayPal as well as Visa, Google and other companies working towards this tendency. PayPal does it’s best in developing technology which can please any users’ preferences.