PayPal UK has been designed exclusively for users in the UK. It will allow British online buyers and sellers to send and receive payments to more than 31m PayPal members around the world.
With the launch of the new site, PayPal is reducing or eliminating withdrawal fees for its UK members. Withdrawals of under £50 to a UK bank will cost 50% less (25p) and fees will be eliminated completely for withdrawal amounts of £50 and above.
Matt Bannick, general manager of PayPal, said: "PayPal is already being used by a large number of people in the UK to buy and sell locally, regionally and across borders around the world. With the new customised features and Seller Protection programme on the site, we are bringing additional convenience and security to our UK customers."
The new UK offering is part of PayPal's broader plan to expand the service in Europe.
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