3
November
2009
Paypal now serves Philippine Peso
Nathan
PayPal serves Philippine Peso
I use Paypal whenever I do online transactions, as it’s a safe option, instead of just inputting my credit card details on the form. Transactions have always been in USD, even though they are local in the Philippines, which meant that the actual price in PHP fluctuates along with the current exchange rate for the day.
Local online shoppers and sellers rejoice! Now, Paypal caters to our local currency. More and more local businesses will surely benefit from this, especially in time for the Holidays. Below are the transaction rates for receiving payment online (taken from Paypal):
- 3.4% + PHP 15.00 (less than PHP 150,000.00)
- 2.9% + PHP 15.00 (less than PHP 500,000.00)
- 2.7% + PHP 15.00 (less than PHP 5,000,000.00)
- 2.4% + PHP 15.00 (more than PHP 5,000,000.00)
Not bad at all.
I first read this news on YugaTech.
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If your blog worked like Facebook, I would have simply liked the post. Hehehe.
Indeed, the timing for this is simply perfect. Now I just wish I have a credit card in order to create my own account.
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@Adette, you don't need a credit card to use Paypal. You can simply open an EON cyberaccount at UnionBank, connect it with your Paypal and you're good to go. That cyberaccount is a debit card so it works like your regular ATM. I only paid P350 to get my card and I deposited P1000 for my initial transaction. I posted the steps on how to do this at MabuhayOnline dot net.
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