J. Angelo Racoma entry on PayPal: One Great Way to Improve the Philippine Economy makes sense.
If only we had PayPal in the Philippines, then I think we would be able to open to the world better means to access to our pool of talent.
Having PayPal in the country would greatly benefit the following people:
Web developers, Designers, Photographers, Writers, Pro-bloggers,
and virtually anyone else who can render services remotely while corresponding via the Internet. Their correspondents can pay simply by clicking a few buttons, and that’s it.
This would be a great opportunity for both sides, as it will open up access to the supply of good talent, and as well as open up access to those who are on the demand-side.
Some possible reasons that Paypal won’t deal with us are the following :
1. With regards to anti-Money Laundering, the Philippines is still in the list of non-cooperative countries.
2. Security issues in our banking system.
3. Banks asking for a big share in Paypal transactions.
Having an online business for global markets require a payment gateway. Paypal is known to have the lowest sales transaction but it’s not available in the Philippines. I can’t even get hold of a credit card merchant account in the Philippines’ financial institutions what with the exhorbitant rates and restrictions required. I availed 2checkout.com to resell my services . One can be a vendor with a $49 signup fee.
Technically, one can get a Paypal account if you have an accomodating relative in a paypal enabled country like the USA to do the paypal transactions for you. The problem is Paypal recognizes the Philippine IP address if you intend to login their Paypal website. This is not a long term soluution to having a paypal account.
What we can do is :
lobby for inclusion as a PayPal enabled country with our senators, congressmen or politicians.
Read other related blogs on the Paypal inclusion of the Philippines