Sign up for The Paypers newsletter Follow The Paypers on LinkedIn Follow The Paypers on Twitter Follow The Paypers on Facebook Follow The Paypers on Google +
The Paypers, paypers, Insight in payments, News, Reports, Events
 advertisement
Online Payments

New system from PayPal: PayPal Student Account

Wednesday 3 December 2008 | 11:32 AM CET

PayPal is testing the PayPal Student Account system with a limited number of customers, allowing children aged 13 and up to make online purchases on websites that accept PayPal as a payment method.

The program allows parents to set up accounts for their children and control their deposits and spending by creating a maximum of four sub-accounts linked to their primary PayPal account. Parents allocate a certain sum of money or create a recurring allowance for their children to make internet purchases. In order to control the child's budget, parents can monitor the amount of money that their children spend, and set up alerts to notify them of account activity (e.g. receiving text or e-mail messages notifying them that they must approve any purchase that goes beyond USD 100.) Parents can transfer funds online or via a mobile phone. PayPal Student accounts do not require sign-up or transfer fees. Customers can also receive a Student MasterCard debit card which is connected to theit student account. PayPal has not yet revealed the specific date when it intends to make PayPal Student Accounts available for a larger number of consumers.
 

More: Link
 advertisement
 advertisement
 advertisement
 advertisement