Paypal Now Available in the Philippines

Paypal Now Available in the Philippines

For the last couple of days, the news that we can now send as well as receive payments through Paypal here in the Philippines has been circulating the pinoy blogosphere and was indeed confirmed by Yugatech.

This is absolutely great news! :mrgreen:

But after reading more news on the topic, the new implementation of Paypal is not yet fully supported by local banks. Which means, we can receive payments in our Paypal accounts but to withraw the money, we need a to have US bank account. :evil:

There is also another alternative, which is to use third party services like Xoom to transfer the money to local banks here in the Philippines. But because it is a third party service, the fees are higher compared to withdrawing directly from Paypal.

In conclusion, Paypal is seeing the potential market here in the Philippines although they may still be negotiating with local banks. What do you think? Can’t they incorporate it with Unionbank’s EON Card?


7 Responsesto “Paypal Now Available in the Philippines”

  1. Mike Abundo says:

    Unionbank EON already works with PayPal. :)

  2. McBilly says:

    Hi Mike! Thanks for clarifying that up. :mrgreen:

    So does that mean I can withraw money from my PayPal account through Unionbank ATMs here in the Philippines using my EON account?

  3. Mike Abundo says:

    Probably. I’ll try it. :)

  4. Jeff says:

    I dunno about the old EONs, but I just renewed my iBank (UnionBank-merged) card and it’s got a legit VISA holo in there. The official PayPal announcement explicitly stated VISA/MasterCard credit and debit cards should work

  5. McBilly says:

    I’m going to try and make a transaction through Paypal using EON card and post the results here. Let’s see if Mike Abundo can make the transaction sooner.

    And if you do make any transactions, please do inform me if it works! Thanks Jeff.

  6. Just saw this on the news:”Two of the US’s biggest mortgage lenders have had mortgage foreclosures cancelled in a case that could affect other banks.The Supreme Court in Massachusetts ruled against US Bancorp and Wells Fargo in a widely watched case.Backing a lower court ruling made in 2009, it said two foreclosure sales had been invalid since the banks did not prove that they owned them at the time.Bank shares fell sharply after the ruling dragging the wider marketplace down.The decision is among the earliest to address the validity of foreclosures done without correct documentation – so-called robo-loans due to the fact they had been carried out by men and women who had been unqualified and who often did not check a single line inside the paperwork.” Will that have a positive impact on people’s lives?

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