PayPal in Philippine Peso

Paypal in Philippine peso currency

I just received a PayPal press release today, confirming that transactions can now be made in Philippine Peso.

“PayPal’s goal is to provide our members with a secure
, fast and convenient way to pay and get paid online,” said Mario Shiliashki, General Manager of PayPal Southeast Asia and India. “The introduction of the Philippine Peso will make domestic ecommerce easier and more convenient for buyers and sellers in the Philippines and is well timed for the holiday season!”

It seems that PayPal are now recognizing the number of Filipinos who make money online. Transactions in peso can now by passed the local banks issue when sending or receiving payments.

Paypal still uses its own foreign exchange rate which is little bit lower that the average rate, about 3-4 percent I guess.