PayPal Holdings Inc. and Visa Inc. have announced their collaboration that will allow PayPal to issue debit cards in Europe.
European banking license already available
Accordingly, Paypal's services are increasingly moving in the direction of traditional banks - PayPal already owns a banking license for Europe.
The market launch has already been planned
Jim Magats, head of payment, product and engineering at PayPal, told the Financial Times that the introduction of the debit card was not an immediate goal, but the plan for the cards was already there.