The company announced on Thursday that it is expanding its services to allow users to send money to Ukrainians. Prior to this expansion, users in Ukraine could only send money out of the country via PayPal. Payments can be sent and received from friends and family around the world with the expansion. Ukrainian customers who receive money in their PayPal wallet will be able to transfer the funds to their bank account by linking an eligible Mastercard or Visa card.
The fees for sending funds to Ukrainian PayPal accounts or receiving funds into Ukrainian PayPal accounts are temporarily waiving by PayPal. Xoom will waive transaction fees for payments sent to recipients in Ukraine.
The Ukrainian government requested that the payments company roll out new services that would allow people in the country to receive payments.
The Vice Prime Minister and Minister of Digital Transformation of Ukraine, Mykhailo Fedorov, shared a letter he received from the payment service.
We believe this service will be helpful for people in Ukraine to receive money from their friends and family. It will allow Ukrainian refugees in other countries to receive money to use or withdraw in their current location.
Ukrainian customers will be able to send and receive funds in a number of foreign currencies. Money will be available in the currency associated with the card when a customer transfers funds from their wallet to that card.
Today's announcement is related to the shutting down of services in Russia. Mastercard and Visa both suspended network services in Russia, and that's not the only company to pull out of the country.
People have been looking for ways to support Ukrainians. Brian Chesky, the CEO of Airbnb, has said that some people around the world have been booking his service in order to send money to hosts in the country. Ukraine has received donations worth tens of millions of dollars from people looking to aid its war effort against Russia.
It will be possible to support Ukrainians through the expanded services of PayPal. The new services will be available today.
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