Friday, October 05, 2007

PayPal and the Philippines

It has been a year since PayPal was made available to Philippine users. Back then, locals were only allowed to send money. Good enough, if you are buying stuff online, I guess.

Numerous petitions were made to allow local users to receive funds as well. And finally, after a year of waiting, PayPal has added the Philippines in it's list of countries that can:

"Send. Receive. Withdraw to a U.S. Bank Account or a card.

Send and receive payments in these countries. Withdraw from your PayPal account to a U.S. bank account. In addition, withdraw to a credit, debit, or prepaid card in countries marked with a (cross)."

With this development, it probably won't take too long for local banks to make the necessary arrangements with PayPal so they can 'get some of the action.' In the mean time, the best bet would be to use a debit card.

Now, who will this benefit? For one, OFWs now have one more way to send funds to their families. Then there are the web designers, programmers, exporters and retailers. And finally, there's this little website called eBay; one man's junk is another man's treasure.


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