IRVING, Texas -- 7-Eleven Inc. has become the first convenience-store chain to offer PayPal Cash, a way for consumers to add money to their PayPal account to make online purchases.
Consumers can now use PayPal Cash at approximately 8,000 7-Eleven c-stores in the United States, announced Erik Dunn, senior manager of consumer financial services for PayPal.
San Jose, Calif.-based PayPal launched PayPal Cash powered by Green Dot, at select U.S. retail locations about a year ago.
To access the service, U.S. consumers can visit approximately 28,000 retail locations, including 7-Eleven c-stores and CVS and Rite Aid drug stores.
The consumer logs in to his or her PayPal account, picks a retailer, and prints a custom barcode and presents it to the cashier (or presents it on a smartphone). The money is automatically added to the consumer’s PayPal account, and he or she receives a receipt and email confirmation for the transaction.
PayPal Cash is available to PayPal users whose identity has been verified by PayPal. A service fee of $3.95 and limits apply.
Founded in 1998, PayPal operates an open, secure and technology agnostic payments platform that businesses use to securely transact with their customers online, in stores and on mobile devices. It has 192 million active customer accounts in more than 200 markets, allowing customers to get paid in more than 100 currencies, withdraw funds to their bank accounts in 56 currencies and hold balances in their PayPal accounts in 25 currencies.
Irving, Texas-based 7-Eleven operates, franchises or licenses more than 61,000 convenience stores in 17 countries, including approximately 10,900 in North America.
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