Oct 23, 2012
Paypal is the most popular online payment solution next to credit cards allowing you to purchase almost anything from online stores. Also, registering for an account is very relatively easy that you only need to have a valid email address to sign-up. After linking your email account with your Paypal account, you can now transfer or withdraw funds from your Paypal account. The only problem now is how you will fund your Paypal account.
For so many years, I have been in constant search for ways to transfer money to fund my Paypal account. Bank wire transfer are sometimes prohibited in some areas or countries making it difficult for anyone to make their first purchase online.
In a recent partnership made between Paypal and MoneyGram, the difficulties in funding your Paypal account would become just a thing of the past. MoneyGram being a money transfer company will now allow Paypal users to deposit and withdraw funds from their Paypal accounts via MoneyGram‘s 284,000 branches scattered all over the world.
According to Paypal, the goal of the partnership is to provide online consumers and retailers for a quick way to turn ‘cash into commerce’. Additionally, this latest collaboration with MoneyGram was intended for expanding their offline footprint reaching a wider audience who are still looking for ways to fund their Paypal account.
“PayPal is expanding our core product to solve problems for consumers, merchants, developers and advertisers — not just trying to re-create a wallet that we already invented 14 years ago. This latest initiative with MoneyGram is another example of how we’re enabling our digital wallet to work across multiple platforms and devices, online and offline, in order to offer consumers more control, flexibility and functionality when interacting with their money,” — Dan Schatt, PayPal’s head of financial innovations.
According to a Paypal blog post, Paypal users will have access to MoneyGram’s money transfer service next year.
I tried searching again for the said news that was posted on the Paypal site but its nowhere to be found. I also tried searching for the progress of this news within the site but there’s nothing out there. If Paypal will be posting some updates soon, I will immediately inform you and post it in this blog. Alternatively, you can still fund your Paypal account via MoneyPak or GreenDot.