PayPal Expands Payment Services, Waives Fees to Help Ukrainians
PayPal is expanding its services in Ukraine, providing customers with more ways of sending money to people in the war-ravaged country, as well as those who've fled as refugees.
New and existing users can now make peer-to-peer (P2P) payments and transfer funds from their Ukrainian PayPal Wallet into a bank account via an eligible debit or credit card. People in Ukraine could previously only use the platform to send money out of the country, the AP reported.
"As the crisis in Ukraine deepens, there is an ever-growing need to help people in the region access critical humanitarian funds," according to PayPal, which early this month suspended services in Russia, condemning the country's "violent military aggression" toward Ukraine.
The company, as well as its international remittance service Xoom, also temporarily waived fees for payments sent to or from Ukrainian PayPal accounts. Charges from a customer's card issuer or bank, however, may still apply.
The move comes after Deputy Prime Minister of Digital Transformation of Ukraine, Mykhailo Feorov, called on the financial tech firm to do more for the invaded country. "Welcome to Ukraine," Fedorov wrote in a Thursday tweet featuring the first page of a letter from PayPal. "Thank you for supporting Ukraine and peace."
New customers will need to create a PayPal account—with passport or national ID—before making any transactions. Once verified, users can link a Mastercard or Visa debit or credit card to send and transfer funds in US dollars, Canadian dollars, British pounds, and euros.
All changes to services and fees apply through June 30, 2022. PayPal is keeping a close eye on the situation in Ukraine, and may make further modifications in the future.
Sign up for What's New Now
Read more on pcmag.com
