Tuesday, February 05, 2008

Paypal Philippines

Good news for everyone whose been waiting to do business online but has found it difficult to properly send and receive payment from anyone and anywhere in the world. Paypal is now available for Filipinos without any limitations this time around. Why is this significant some of you might ask? Paypal is the world’s largest secure online payment network and the number one payment processor used today. One simply cannot do away with Paypal if you want to have a slightest chance of your business succeeding online. With the popularity of selling things online by listing them at various auction or buy and sell sites like ebay, the potential to earn money is huge.

One of the biggest hurdles we have in migrating our brick and mortar business online is an effective payment system. We may have a great product or service that a lot of people are interested in buying or using, but buyers will find it difficult to pay merchants without jumping through various online payment processors that are either difficult to fund, have exorbitant fees or difficulty in converting those digital currency into cold hard Philippine pesos. With the availability of Paypal in the Philippines, all the hurdles in doing business online have been shattered. Paypal has been available in Philippines for around 2 years now, but with lots of restrictions in place. Initially, users from the Philippines can only send money-using Paypal to pay for various goods and services online but cannot receive funds from other Paypal accounts and has no way of withdrawing the money into our banks or debit cards. But all these restriction has slowly been lifted starting with the ability to receive money from other Paypal accounts, followed by the availability of withdrawing our funds through various VISA debit cards like UnionBank’s EON card, and now finally the most exciting feature is the availability of withdrawing funds from Paypal directly to our local bank accounts. With is feature in place, your market will no longer be confined to our shores but to the rest of the world, truly bringing out the true potential of your business.

Of course with that said, Paypal is not without any faults. Long time international users have been complaining that Paypal favors the buyer more than the seller. With the ability of the buyer to open a dispute or chargebacks claiming non-delivery of goods and services even if they have already received them and some have abused this system. But Paypal has been addressing this issue and already have improved a lot in this area by making it harder for buyers to do this without presenting any proof of non fulfillment of obligations. In a nutshell, if you are serious about making money from your business by expanding it for the global market and if you don't have a Paypal account yet, then you should definitely go ahead at sign up here PayPal , it's absolutely free.

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