07-08-2006, 10:15 AM
Quote: PayPal Inc. is testing a virtual debit card that allows PayPal customers to use their PayPal accounts anywhere MasterCard is accepted online, even if the merchant doesnt accept PayPal.
The PayPal Virtual Debit Card will be issued by J.P. Morgan Chase and processed through First Data Corp., a PayPal spokeswoman says... Buyers can download the software needed for the virtual card from PayPals site.
With the virtual debit card, purchases are paid for with a customers PayPal balance. If there isnt enough money in a customers PayPal account, the payment will come from the customers bank account, PayPal Buyer Credit or the PayPal Plus Credit Card, depending on a customers pre-set preferences...
full article: http://www.internetretailer.com/dailyNews.asp?id=19154