PayPal Offers Free Payment Services To Ukrainians

PayPal announces its plans to extend its payment services for Ukrainians, indicating its support for the country. Ukrainian PayPal accounts will be able to send and receive money from friends and family as of Thursday, thanks to the new payment service. Ukrainian account holders can now transfer money from their PayPal accounts to credit and debit cards.  Also, external bank accounts, by linking an eligible Visa or Mastercard debit or credit card. This is according to a letter sent to the Ukrainian Minister of Digital Transformation Mykhailo Fedorov on March 17.

PayPal Ukrainians

What PayPal says

“We feel this service would be helpful for people in Ukraine to receive money from their friends and relatives around the world,” the payment provider added. Also, “Ukrainian refugees in other countries can get money to utilize or withdraw in their current location.”
Previously, the PayPal service for Ukrainian users only allowed them to send money overseas from their accounts. According to the company, users could not receive.

The reason for this, according to the company’s representative, Tom Hunter, is that “functionality differs per market” based on “a number of criteria.” According to a post from PayPal on its efforts in Ukraine, Ukrainian customers were able to receive funds from friends and relatives in the United States, Canada, the United Kingdom. And, also from other parts of Europe using PayPal’s cash pickup and prepaid mobile phone refill services. PayPal didn’t stop there; the business has begun waiving transaction fees for payments to Ukrainian bank accounts. Both senders and recipients can use this service. According to a blog post by PayPal, this transaction waiver also applies to Xoom, the company’s global remittance platform.

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More about it

When money is sent from a PayPal account to a linked debit or credit card, the funds are available in the local currency of the card. Euros, US dollars, Canadian dollars, and British pounds will be able to be sent and received by Ukrainian users. However, This service is only available for a limited time. According to the corporation, it will cease at the end of June.
Mykhailo Fedorov, Ukraine’s Vice Prime Minister and Minister of Digital Transformation took to Twitter to praise PayPal for its help. Further, It’s worth noting that the Minister has been aggressively contacting tech businesses around the world, seeking assistance for Ukraine and cutting off services to Russia. He wrote to PayPal, requesting increased services in the country, according to a letter he uploaded on Twitter.

 

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