PayPal announces support for prepaid gift cards for online purchases

Today PayPal announced that it has began supporting prepaid gift cards through PalPal Checkout for online purchases. This is big business for PayPal and many online retailers who do not normally accept prepaid gift cards because they do not have an address attached to them.

PayPal will be collecting a 2.9-percent fee per purchase as well as a $0.30 per transaction fee each time you swipe the gift card. This new offering from PayPal is yet another push to generate even more revenue streams and should prove to be quite profitable over the holiday season. Would you rather receive a gift or a gift card over the holidays? Let us know in the comments.