PayPal is expanding its services to allow users to send money to Ukrainians, the company said on Thursday. Prior to this extension, users in Ukraine could only use PayPal to send money outside the country. The extension will allow PayPal account holders in Ukraine to send and receive payments from friends and family around the world. Ukrainian customers receiving money to their PayPal wallet can transfer money to their bank account by linking the appropriate MasterCard or Visa debit or credit card.
PayPal also announced that it is temporarily waiving fees for customers who send money to Ukrainian PayPal accounts or receive money to Ukrainian PayPal accounts until June 30th. Xoom, the company’s international money transfer service, will also waive transaction fees for payments sent to recipients in Ukraine.
PayPal’s announcement follows a request from the Ukrainian government to ask the payment company to roll out new services that will allow people in the country to access payments.
Vice Prime Minister, Minister of Digital Transformation of Ukraine Mykhailo Fedorov praised expand on twitter And shared the email I received from PayPal.
“Our team is working intensively to determine how PayPal can best and expeditiously deliver value-added services to Ukrainians,” PayPal said in a letter. “We believe that this service is useful for people in Ukraine to receive money from their friends and relatives around the world. It will also help Ukrainian refugees in other countries use their current location or receive money for withdrawal.”
Ukrainian customers can send and receive money in US dollars, Canadian dollars, pounds sterling and euros from their Ukrainian PayPal wallet. Once a customer has transferred their funds from their PayPal wallet to an eligible debit or credit card, the funds will be available in the currency associated with that card.
Today’s announcement comes as PayPal services in Russia were shut down earlier this month. PayPal is not the only payment company to leave the country, as both Mastercard and Visa have suspended online services in Russia.
Since the beginning of the war, people have been looking for ways to financially support the Ukrainians. Airbnb CEO Brian Chesky said some people around the world who have booked Airbnb in Ukraine have no intention of staying to send financial aid to hosts in the country. Ukraine has also received hundreds of millions of dollars in cryptocurrency donations from people willing to help the military action against Russia.
PayPal’s comprehensive services will provide a more direct way to support Ukrainians. The company says these new services will be available starting today.