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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 Image by: AFP
Kaylene Hong
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Kaylene Hong

Kaylene Hong was Asia Reporter for The Next Web between 2013 and 2014, based in Singapore. She is bilingual in English and Mandarin. Stay in Kaylene Hong was Asia Reporter for The Next Web between 2013 and 2014, based in Singapore. She is bilingual in English and Mandarin. Stay in touch via Twitter or Google+.

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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.

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