The internet auction company eBay will announce in the coming weeks the launch of an Israeli branch of its PayPal electronic payment and fund transfer company, TheMarker reported on Sunday. The new division will allow Israeli users to withdraw shekels from their PayPal accounts through their Israeli bank accounts, making eBay more attractive to Israeli buyers and sellers, bringing international buyers closer to Israeli online stores, and enabling Israelis to buy from stores around the world without exposing credit card details.
Founded in 1998 and acquired by eBay in 2002, PayPal provides a secure method for payment transfers between online buyers and sellers, charging sellers an average commission of 2.5 percent on every transaction.