On eBay & Paypal’s presence in the Philippines
Yesterday, I had a short 15-minute one-on-one interview with reps from eBay South East Asia who flew in from their regional headquarters in Singapore to answer some questions for the media on eBay’s expansion in the Philippines.
Although I was expecting somebody who is in-the-know about Paypal, eBay’s VP for Emerging Markets Dan Neary diligently tried to answer some of my questions on that front. Eunice Lim, PR Manager, and Jean Ow-Yeong, Consumer PR & Community Specialist for eBay Southeast Asia were glad to share some interesting information about eBay Philippines as well.
As for Paypal in the Philippines, I have yet to get some really concrete and detailed answers but most of the fees and banking questions I asked were addressed and categorized under “regulatory issues”. I was assured that eBay is working really hard to sort out Paypal’s development in the country especially with offering local (Philippine Peso) currency.
Currently, Paypal transactions are still in US dollar currency and transfers or withdrawals are heavily affected because of foreign exchange rates (I earlier discussed about the difference in exchange rates here). Once Paypal opens up and introduces the Philippine Peso currency, transactional forex expenses will become more consumer friendly. For the meantime, let’s just all be glad we now have direct access to hundreds of millions of Paypal users in the network.
Details of my interview are posted on PTB.