Not many people are aware of this, but since October 2006, Paypal, an online payment system, is already available in the Philippines. This is good news for many online entrepreneurs because it will allow them to make online payments or send money to their supplier of raw materials overseas.
One major feature available in the Philippines is that PayPal will allow people to withdraw their PayPal balances to their Visa-branded credit, debit or prepaid cards. This feature will allow an online entrepreneur more access to his or her account in 26 countries.
However, there are still some limitations to the service. For one receiving funds using the Philippine-based PayPal account is not yet available.
Also, funding an account through banks to make payments is still not an option to Filipino users. This means that if you want to purchase something, you still have to use your regular credit cards, to which the question: why used your PayPal then when you can purchase using your cards directly.
Nevertheless, PayPal offers a safer alternative to online entrepreneurs to transact their business.
One major feature available in the Philippines is that PayPal will allow people to withdraw their PayPal balances to their Visa-branded credit, debit or prepaid cards. This feature will allow an online entrepreneur more access to his or her account in 26 countries.
However, there are still some limitations to the service. For one receiving funds using the Philippine-based PayPal account is not yet available.
Also, funding an account through banks to make payments is still not an option to Filipino users. This means that if you want to purchase something, you still have to use your regular credit cards, to which the question: why used your PayPal then when you can purchase using your cards directly.
Nevertheless, PayPal offers a safer alternative to online entrepreneurs to transact their business.
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