PayPal and Mastercard will continue the global expansion of its PayPal Business Debit Mastercard.

The debit card gives customers instant access to PayPal funds and unlimited 0.5% cash back on eligible spending.

The PayPal Business Debit Mastercard was launched in 2003, and has been available in Germany, the U.S. and the U.K, but now is available in Austria, France, Ireland, Italy and Spain, according to a press release.

The debit card has no monthly fees, no foreign exchange fees and a flat ATM withdrawal charge of just €2 (US $2.33) worldwide.

With its cash back program, PayPal has paid out $45 million USD to business owners every year.

"Supporting small businesses is an indispensable part of the economic recovery. To that end, we want to make it as simple and convenient as possible for businesses to access their funds," David Dechamps, senior vice president, digital partnerships at Mastercard Europe, said in the release. "At Mastercard we are delighted to be PayPal's partner of choice for issuing debit cards to their business customers."