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Paypal now sends in Philippine Peso




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!”

paypal peso

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.



Abe is the founder and Editor-in-Chief of YugaTech. You Can follow him on Twitter @abeolandres.

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28 Responses

  1. Essays.ph says:

    Hope Gcash and stuffs will be integrated to Paypal in the future.

  2. Christopher Quijano says:

    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.

  3. Christopher Quijano says:

    Whoops…

    its 3.4% + P15 for domestic transactions/
    3.9% + P15 for international transactions.

    not really bad.

  4. abe why dont you try Infolinks? it has 80% revenue share for the publisher

  5. Good to know that Paypal is now having transaction in PHP

  6. jpeb says:

    this is good since i use my Smart Money on Paypal

  7. Wow!! This is a great news! :)

  8. Lance says:

    Cool!

    Anyone care to advice? Should I go with the pp exchange rate and withdraw in php?

    Thanks!

  9. Lance says:

    Cool!

    Should I go then with the pp exchange rate? I’m still hesitant.

    Advice please. thanks!

  10. Rocky Garcia says:

    This will be a very good news for us!

  11. Jhay says:

    Cool! Now if only Amazon would start to accept payments via PayPal, things would be so much easier for us.

  12. sterndal says:

    that’s good news!

    now i don’t need us dollar account to withdraw my money from paypal

    yey!

  13. seo articles says:

    Hope paypal will also allow withdrawal of dollars local dollar account here. Very useful if you have internet business.

  14. aie says:

    ang saya sana pwede na din ma verified ang paypal with bdo debit card hahahahha :D

  15. Communicator says:

    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/

  16. Gio says:

    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.

  17. very great news, I am using Paypal and currently having problem with the transactions in sending my balance to my bank account. Whew.

  18. Jojo Agot says:

    This is great news. At last it will be easier for Filipinos to do transactions online. If only there are more UnionBank branches nationwide.

  19. PP user says:

    Hi! Anyone know if it is possible to setup a paypal merchant account in the Phil? Checked the website pero nakasulat for USA only…

  20. AdRian says:

    nice!
    great news !

  21. JCO says:

    Haven’t known this till now. This is good to know. Hopefully GCash or Smart Money can tie up with PayPal.

  22. 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.

  23. webhostph says:

    I had that press release also. And for peaople who are using paypal in the Philippines benefit on this. Great great news!

  24. jun says:

    i have balance in paypal which is in peso. how can i change it to dollar? anyone knows?

  25. We tried receiving in Peso but it entailed some charges on our part. I think there is a fee you to be able to receive in Peso. I think paying in dollars is not really a problem for our customers. For now, we will just accept payments in US dollars.

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