PayPal's prepaid card wins award

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PayPal's prepaid card wins award

PayPal's prepaid card, which enables account holders to spend their online funds offline, has been recognised as the UK's best new prepaid card product.

The award was announced at the Card Awards, a ceremony hosted by John Humphrys which recognises the achievements of the credit card industry.

A panel of independent judges picked the award winners based on their demonstration of strategy, creativity, transparency and value to customers, as well as their commercial results.

Carl Scheible, managing director of PayPal UK, said his company was "delighted" that its prepaid card had been recognised by the industry.

He added: "The card has proved a big hit with customers, enabling them to pay with PayPal on the high street as well as online."

Other winners at the awards included the Co-operative Bank, which was given the prize for best charity credit card for its Woodland Trust Charity Credit Card.

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