Services expanded by PayPal to allow users to send money to Ukrainians
- ByStartupStory | March 19, 2022
On Thursday, PayPal announced that it is expanding its services to allow its users to send money to Ukrainians.
Users in Ukraine prior to this expansion, could only use PayPal to send money out of the country. To send and receive payments from friends and family around the world has been allowed by the expansion to Ukrainian PayPal. By linking an eligible Mastercard or Visa debit or credit card, Ukrainian customers who receive money in their PayPal Wallet will be able to transfer the funds to their bank account.
PayPal also announced that to Ukrainian PayPal accounts or receiving funds into Ukrainian PayPal accounts through June 30, it’s temporarily waiving its fees for customers sending funds. The company’s international remittance service, Xoom, will also waive transaction fees for payments sent to recipients in Ukraine.
A request from the Ukrainian government asking the payments company to roll out new services that would allow people in the country in order to receive access to payments, follows the announcement from PayPal.
Ukraine’s Vice Prime Minister and Minister of Digital Transformation, Mykhailo Fedorov, applauded the expansion on Twitter and shared a letter he received from PayPal.
From the Ukrainian PayPal Wallet in USD, CAD, GBP and EUR, Ukrainian customers will be able to send and receive funds. The money will be available in the currency associated with that card, once a customer transfers their funds from their PayPal Wallet to an eligible debit or credit card.
Today’s announcement comes as earlier this month, PayPal shut down services in Russia. As Mastercard and Visa both suspended network services in Russia, PayPal isn’t the only payments company to pull out of the country.
Follow Startup Story
Related Posts
