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June 30, 2011 08:47 pm GMT
PayPal is shutting down its Money Market Fund, notifying participants that the fund will be closing as of July 29 of this year.PayPal users could previously put the money they earned from PayPal transactions in a Money Market Fund to accrue interest. PayPal customers could choose have their free cash balances swept into the Fund in order to earn income until the cash is used. Shares of the Fund will could be redeemed to pay for transactions such as payments, purchases and other electronic money transfers from PayPal customer accounts. 
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/91jWYGT-c2c/
PayPal Shutters Money Market Fund For Merchants
PayPal is shutting down its Money Market Fund, notifying participants that the fund will be closing as of July 29 of this year.PayPal users could previously put the money they earned from PayPal transactions in a Money Market Fund to accrue interest. PayPal customers could choose have their free cash balances swept into the Fund in order to earn income until the cash is used. Shares of the Fund will could be redeemed to pay for transactions such as payments, purchases and other electronic money transfers from PayPal customer accounts. Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/91jWYGT-c2c/
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