GAMBLING NEWS
PayPal offers new student account
Aug 14, 2009
The online payment processor PayPal that is owned by Ebay is always interested in attracting new customers to expand their online payment operation and this time around they have set their sight on a new group of consumers. PayPal has created a whole new account that is aimed directly to youth and students and their parents. A parent carrying a PayPal account can now create up to four sub accounts that can be used to transfer money to the main accountholders children instead of handing over cash.
The new PayPal account is supposed to be another way for U.S parents to issue their children money. The PayPal account will feature a big set up for the parent to monitor where the children spend their money through mobile phones as well as have access to the PayPal account that the youth owns. The guardian will be able to set permissions to the account where the money can be spent as well as being alerted when the account balance had reached a preset level so that the parent always knows if the child has spent al the money in the account.
The new PayPal account will of course feature all safety aspects that all other PayPal accounts have and no personal information is ever sent when making a payment to a store. The student account will at a start only be introduced to the U.S market but if the solution is a success PayPal are interested in expanding the service to other regions as well. PayPal VP of customer experience and design, Don Fotsch said that with a PayPal student account it will be easy for parents to stay I top of their children’s spending habbits.
