Amsterdam, September 1, 2021 – Today PayPal (Nasdaq: PYPL) and Mastercard (NYSE: MA) announce that they are continuing the international expansion of the popular PayPal Business Debit Mastercard into the Netherlands. The debit card makes it easy for small businesses to quickly access their available PayPal credit and could give them unlimited 0.1% cashback1 on eligible spend in the Netherlands.
For the past two years, PayPal and Mastercard have focused on expanding their debit card offerings for small businesses across Europe. As of today, the PayPal Business Debit Mastercard is available in four new European countries – Finland, Belgium, the Netherlands and Portugal – in addition to the existing availability in Austria, France, Germany, Ireland, Italy, Spain, the United Kingdom and the United States.
Mastercard is one of the most widely accepted cards in the world, which means that PayPal business customers can now spend money on their PayPal account at more than 52 million Mastercard acceptance points worldwide. The debit card has no monthly fees, no exchange fees and a flat fee for cash withdrawals from ATMs of just €2 worldwide.
With the cashback program, PayPal pays out more than EUR 40 million each year to eligible business owners. In the European markets where the card is currently available, the PayPal Business Debit Mastercard is most commonly used for stocking up inventory and deploying digital marketing, while in the United States, the card is most commonly used for paying for business services and the purchase of daily groceries.
“Entrepreneurs have had an eventful time and the past two years have been challenging for many small businesses. Having quick and easy access to your available finances has never been more essential. The PayPal Business Debit Mastercard offers entrepreneurs that, as well as the possibility to get money back, which helps companies to thrive," says Joachim Goyvaerts, Director Benelux, PayPal.
David Dechamps, Senior Vice President, Digital Partnerships at Mastercard Europe said: “Mastercard is committed to supporting small businesses in all markets. Providing SMEs with the best means to easily access their assets is crucial, especially in the current climate. We are therefore delighted to continue to be PayPal's preferred partner for the issuance of payment cards to their business customers.”
The PayPal Business Debit Mastercard was first launched in the United States in 2003, with a cashback reward with every use. Since then, PayPal has chosen to partner with Mastercard in every new market to offer its business debit card offerings. For more information about the PayPal Business Debit Mastercard, and how to apply for it, please visit http://www.PayPal.com/nl/businessdebit
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