PayPal has expanded its services to include the ability for people to send money to Ukrainians

PayPal stated on Thursday that it is extending its services to allow customers to transfer money to Ukrainians. Customers in Ukraine only used PayPal to transfer money abroad before this extension. Ukrainian PayPal users can now receive and send funds from friends and family across the world as a result of the extension. Users in Ukraine will be able to transfer money from their PayPal Wallet to their bank account by linking an appropriate debit or credit card.

Customers in Ukraine would be able to send and receive money in USD, CAD, GBP, and EUR using their Ukrainian PayPal Wallet.

PayPal accounts and receiving money from Ukrainian PayPal accounts until June 30. The company's international remittance service, Xoom, would likewise waive transaction costs for funds made to Ukrainian recipients.

PayPal's announcement comes in response to a request from the Ukrainian government for the company to introduce new solutions that would allow Ukrainians to obtain payment access.

“Our teams have worked intensively to identify how PayPal could best and quickly provide additional services to Ukrainians,” the letter from PayPal reads. “We believe this service with be helpful for people in Ukraine to receive money from their friends and relatives around the world. It will also help Ukrainian refugees in other countries, so they can receive money to use or withdraw in their current location.”

People have looked for methods to financially support Ukrainians since the war began.

PayPal's services were taken off in Russia earlier this month, prompting today's announcement. PayPal isn't the only corporation to abandon Russia; Mastercard and Visa have both discontinued network services in the country, according to TechCrunch.

Visa Inc (V.N) and Mastercard Inc, both based in the United States, announced earlier this month that they would suspend services in Russia due to the war against Ukraine and that they would collaborate with partners and clients to stop any transactions there.

All payments initiated with Visa cards issued within and outside Russia will no longer work within of the nation, according to the companies.

Russians are prepared for an unpredictable future of escalating inflation, economic misery, and an even tighter squeeze on imported products as a result of the payments firms' move.

Unprecedented Western sanctions against Russia have frozen a large portion of its central bank's $640 billion in assets, prevented many banks from using the global payments system SWIFT, and put the rouble into free decline, wiping off a quarter this week.

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