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PayPal extends coverage

Posted by Michael Bloch in ecommerce (Tuesday October 17, 2006 )

PayPal recently announced payment support for 10 new currencies and has also added 48 new markets in which residents can send money via the service.

The new currencies are:

– New Zealand Dollar
– Swiss Franc
– Hong Kong Dollar
– Singapore Dollar
– Swedish Krona
– Danish Krone
– Polish Zloty
– Norwegian Krone
– Hungarian Forint
– Czech Koruna

The new markets include Indonesia, the Philippines, Croatia, Fiji, Vietnam and Jordan. A full country listing can be viewed here.

I notice that we can still only send our Russian friends cash via PayPal – and that’s where it stays. Russians still can’t withdraw it, so it’s only good for them to use to buy other products and services from PayPal supporting merchants. It must be a great source of frustration for them. I know that it is for some American companies I work with who wind up needing to use wire transfers or Western Union (brrr) to pay their Russian staff.

Nigeria is still nowhere to be seen on the list – hrm. I wonder why – not. So much fraud pours out Nigeria. Then again, Russia isn’t much better (more so on the hacking front).

I really hope that Russian authorities start cracking down soon on their hacker and fraudster issues as I’m certain this is playing somewhat of a role in PayPal’s hesitation in expanding services for that country. There are so many Russians who could really benefit from unfettered access to PayPal services given the number of them involved with Western business interests. I guess the recent jailing of 3 Russian hackers for 8 years hard labor each is a good start. From what I understand, Russian jails make most prisons in the West seem like holiday camps.

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1 comment for PayPal extends coverage
  1. The fact remains that Paypal has not yet implemented wire transfer to most of the countries. For example, it shows absolute ineptitude on the part of Paypal not to provide the facility for transfer of payments to India. There are thousands of software firms in India which could have used Paypal to accept payments from clients. The number of users online is exploding in India and Paypal has already lost billions of dollars in potential business.
    Obviously this would help Google!

    Comment by Exclusive Ventures — November 16, 2006 @ 1:21 pm

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