PaidByCash: new online virtual debit card payment system launches

[mandy]

Retail Expansion Network today launched PaidByCash, a nationwide system that lets shoppers pay for online purchases with a temporary MasterCard debit card acquired for cash at any of 60,000 participating stores, including Safeway supermarkets, Circle K convenience stores and Walgreens drug stores...

full article: http://www.internetretailer.com/dailyNews.asp?id=21546

PaidByCash web site: http://www.paidbycash.com/pbc/

Easy - Simply print a PaidByCash Payment Code, load it with cash at a nearby store, activate your code, and instantly receive a Virtual MasterCard® Card to shop online wherever Debit MasterCard® is accepted.

Fast - with 60,000 locations, you will be shopping online in minutes.

Private - No personal financial information required

[mandy]

Auctionbytes has an article on PaidByCash:

Michael Marubio, CEO of Retail Expansion Network, addressed questions about the use of PaidByCash by sellers on eBay, which has a strict "Accepted Payments" policy. "PayPal explicitly accepts MasterCard. As long as PayPal and eBay continue to accept, process, and settle MasterCard transactions, buyers and sellers may use PaidByCash. There are, of course, specific rules about the limitations of displaying this option to eBay consumers from a seller's site - though they mostly deal with logo size limitations. PaidByCash has made available the correct sized logos for display on any eBay page, and are available once a merchant is signed up. At the end of the day, buyers are simply purchasing a prepaid MasterCard, which they then "spend" on the seller's site through PayPal."

PaidByCash estimates that 100 million consumers prefer to pay cash for online purchases, including "teenagers too young to qualify for credit cards, security-conscious online shoppers, people without credit cards or those whose cards are too near their credit limit, and individuals who simply prefer to pay in cash." ...

full article: http://www.auctionbytes.com/cab/abn/y07/m03/i08/s01