I already noticed this last week but didn’t post about it because I thought it was an old feature that I only recently noticed. Paypal sent in a press release today confirming that transactions can now be made in Philippine Peso.
“PayPal’s goal is to provide our members with a secure, fast and convenient way to pay and get paid online,” said Mario Shiliashki, General Manager of PayPal Southeast Asia and India. “The introduction of the Philippine Peso will make domestic ecommerce easier and more convenient for buyers and sellers in the Philippines and is well timed for the holiday season!”
Good news to a lot of merchants that make local transactions in peso. This skips the usual issue with US dollar exchange rates when sending or receiving payments.
Paypal still uses its own foreign exchange rate schedule which is a little lower than the going rate (my last check, it was around 2% difference). In a way, that standardizes the forex rates for Paypal transactions that the buyer and merchant can stick with.
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Hope Gcash and stuffs will be integrated to Paypal in the future.
Twitter: c_quijano
replied on Nov 3rd, 2009 at 4:22 pm (2)
Its good to have now a Philippine Peso option on PayPal. I tried it already sending and receiving money and it works. And for online merchants, their rates are low compared to the other local online CC processors here.
2.5% + P15 Transaction fee: not bad at all.
Twitter: c_quijano
replied on Nov 3rd, 2009 at 4:31 pm (3)
Whoops…
its 3.4% + P15 for domestic transactions/
3.9% + P15 for international transactions.
not really bad.
abe why dont you try Infolinks? it has 80% revenue share for the publisher
Good to know that Paypal is now having transaction in PHP
this is good since i use my Smart Money on Paypal
Twitter: glennong
replied on Nov 3rd, 2009 at 8:26 pm (7)
Wow!! This is a great news!
Cool!
Anyone care to advice? Should I go with the pp exchange rate and withdraw in php?
Thanks!
Cool!
Should I go then with the pp exchange rate? I’m still hesitant.
Advice please. thanks!
This will be a very good news for us!
Twitter: jhayrocas
replied on Nov 3rd, 2009 at 11:20 pm (11)
Cool! Now if only Amazon would start to accept payments via PayPal, things would be so much easier for us.
that’s good news!
now i don’t need us dollar account to withdraw my money from paypal
yey!
nice one.
Hope paypal will also allow withdrawal of dollars local dollar account here. Very useful if you have internet business.
Twitter: aiesalas
replied on Nov 4th, 2009 at 12:06 pm (15)
ang saya sana pwede na din ma verified ang paypal with bdo debit card hahahahha
Also read my blog on sending money to the Philippines including inside the Philippines too
http://philippinestuff.wordpress.com/2009/10/17/sending-money-toin-philippines/
This is totally a great news for Filipino Internet users, with Union Bank allowing Paypal transactions with their debit cards, e-commerce will be an ease for us Filipinos.
Twitter: kelvinservigon
replied on Nov 4th, 2009 at 10:41 pm (18)
very great news, I am using Paypal and currently having problem with the transactions in sending my balance to my bank account. Whew.
This is great news. At last it will be easier for Filipinos to do transactions online. If only there are more UnionBank branches nationwide.
Hi! Anyone know if it is possible to setup a paypal merchant account in the Phil? Checked the website pero nakasulat for USA only…
nice!
great news !
Twitter: pinoytypist
replied on Nov 7th, 2009 at 10:55 pm (22)
Haven’t known this till now. This is good to know. Hopefully GCash or Smart Money can tie up with PayPal.
We’ve been using Paypal since last year and it’s integrated into our shopping cart software but only today that we know about this. Great news indeed.
Twitter: webhostph
replied on Feb 25th, 2010 at 10:46 am (24)
I had that press release also. And for peaople who are using paypal in the Philippines benefit on this. Great great news!