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30 August 2011
PayPal denies plans for payment transfers to Russia and Ukraine

MOSCOW. Aug 30 (Interfax) - International payment system PayPal will not start money transfers to Russia and Ukraine in September as earlier reported, the company said in a statement.

"PayPal currently has no plans to launch additional services in Russia in September of this year," the statement said.

New tariffs for money transfers effective September 24 were publish on the company's website a week ago. Russia and Ukraine were included among the countries where customers can transfer funds.

Russia and Ukraine were included on the list of countries for payment reception by mistake, PayPal said. "This mistake has been corrected," the company said.

"Russia and Ukraine are very interesting markets, which PayPal is intently studying. Our goal is to provide PayPal services everywhere there is a noticeable demand but this needs time," the statement said.

PayPal is owned by the internet auction service EBay and started operations with Russian users in 2006 but with several restrictions. For instance, Russian citizens cannot receive payments into their accounts. A transfer of funds from another PayPal user is possible only in special situations such as the return of money for an unreceived good. Therefore, Russian residents wishing to sell something through eBay have been forced to use foreign intermediary service, which take commissions on transfers.