People who store money on Green Dot Corp. prepaid cards can now transfer those funds to PayPal Inc. accounts.
Green Dot, a Monrovia, Calif., company, said the agreement announced Wednesday with eBay Inc.'s payments unit would make it easier for cardholders to shop online.
The pairing also shows how prepaid cards are becoming a more versatile option for people who choose not to keep their money in bank accounts or do not like to use credit cards.
The agreement "creates a cash-based solution for millions of people who want to use PayPal to shop online but don't have a credit card or bank account," Steve Streit, Green Dot's founder and chief executive, said in a press release.
