PayPal has been synonymous to online shopping or e-commerce and has been acquired by eBay in October 2002.
Currently, PayPal operates in 190 markets, and it manages over 223 million accounts, more than 73 million of them active. PayPal allows customers to send, receive, and hold funds in 19 currencies worldwide.
The company continues to focus on international growth and growth of its Merchant Services division.
International headquarters is located in Singapore.
MOL AccessPortal Berhad (MOL), is one of Asia Pacific’s leading payment system providers.
One of the recent biggest news in Web 2.0 was MOL Global Pte. Ltd. (“MOL Global”), an affiliate of MOL AccessPortal 100% acquisition of Friendster.com.
Facebook and MOL then announced a partnership which would allow users to buy Facebook Credits, the social network’s touted virtual currency, through MOL’s online and offline distribution network.
The deal was also said to include the Friendster patents.
What’s PayPal – MOL Digital Card
The Paypal – MOL Digital Card is a new debit/prepaid card for online shopping and gaming targetted at Malaysian consumers.
Issued by EON Bank Berhad, this is the first co-branded prepaid card for PayPal and MOL in the Asia Pacific region.
The card enables Malaysians to fund a PayPal account that can be used to conveniently shop on millions of websites worldwide (VISA merchants) or to easily reload MOLPoints to purchase online games, products and services.
How to use
Just like a debit card, it can be used for offline/store purchases in VISA merchant stores.
The card can also be used online where PayPal payment is accepted.
However, you will need to select this card as your primary card in your PayPal profile.
More information here.
How to get one
Can be purchased in 7-Eleven stores in Malaysia or applied online at www.PayPal-MOL.com to be picked up and signed for at EON Bank branches once the application is approved.
Welcome Pack Price at 7-Eleven: RM15 per pack
Annual Fee: RM 10 (First Year Annual Fee Waived)
Max. Top-up Amount: Up to RM10,000
Max. Top-up Per Day: 2 times
Annual Fee :Waived for subsequent year if cardholder had used the card more than 12 times in a calendar year
Cash Withdrawal via ATMs: Zero fee through EON Bank and EONCAP Islamic Bank ATMs and RM10 through the Visa Plus ATMs
EON Bank and EONCAP Islamic Bank: Free
7-Eleven Outlets: RM1
Other Retail Outlets (Cybercafes, E-Pay, Popular Bookstores, one point, OnePay): RM2
Online Banking (Maybank, RHB and FPX): RM2
Top Up requires minimum of RM 60. Charges apply.
One good thing as compared to a credit card is it does not require a RM 50 government service tax.
EON Bank Internet Banking
As EON Bank is the issuer of the card, you can check for the balance on your Mol PayPal – The Digital card and your transaction history via EON Internet Banking Service.
Do note however, it is not specified that you can topup from EON Bank’s Internet Banking, but possible via RHB Bank (www.rhbbank.com.my) and Maybank (www.maybank2u.com.my).
I’m guessing the function to topup debit card is not ready yet?