This article was published on September 18, 2013

PayPal’s local currency support for Russia goes live with 13 e-commerce stores


PayPal’s local currency support for Russia goes live with 13 e-commerce stores

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PayPal has finally landed in Russia to offer a payment option in the local currency, starting with 13 e-commerce stores, which range from hypermarkets to Russia’s largest online store for clothes, shoes and accessories inLaModa.ru.

It has been possible for Russians to open a PayPal account for years, but it only allowed users to pay in US dollars. PayPal says that even so, it has three million registered users and 1 million active users in the country.

In May this year, PayPal received a license from Russia’s central bank, taking the total number of currencies it supports to 26.

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PayPal says it will be getting more Russian merchants on board in the coming months, though smaller merchants will have to wait till toward the end of the year.

➤ PayPal Goes Live with 13 Merchants in Russia [PayPal Announcement]

Headline image via Eric Piermont/AFP/Getty Images

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