PayPal has added support for prepaid gift cards, TechCrunch reported on November 27.
The announcement reportedly comes after months of research and investigation and the development of a “patent-pending” method for acceptance. PayPal collects a 2.9 percent on gift card sales from consumers and 30 cents per transaction from merchants.
The move comes one month after PayPal partnered with Blackhawk to allow its consumers access to Blackhawk’s physical gift cards. For more on the announcement read the full report here.
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