PayPal launches in UK

"Online payment service PayPal has officially launched its first international site in the UK, which will offer business members fraud protection benefits.

The Seller Protection programme offers fraud protection from chargebacks for qualified transactions. To be part of the programme, sellers will need to have a verified business account and a history of sending out tangible goods in a timely manner.

'PayPal is already being used by a large number of people in the UK to buy and sell locally, regionally and across borders around the world,' said Matt Bannick, general manager of PayPal.

The official launch also sees the reduction or elimination of withdrawal fees for UK members. Normally, the charge of transferring less than £50 to a UK bank from a PayPal account costs £0.50, but this will be reduced to £0.25. Fees will be eliminated completely for withdrawal amounts of £50 and above.

UK and other European members will be supported by PayPal's new European headquarters in Dublin."

MSFN - PayPal launches in UK