PayPal explains it announced the decision to launch business in Russia by mistake

August 30, 2011, Tue 11:35 AM  Internet  Business

Russians have been looking forward to an opportunity to use online retail stores at eBay for a while, but online payment company PayPal explained that it had announced the decision to launch business in Russia by mistake.

American payment system PayPal does not plan to launch business in Russia starting from the end of September, said to CNews Arseny Rastorguev, a representative of the Grayling agency, citing PayPal press relations service. The Grayling agency is cooperating with the system.

Russia and Ukraine were mentioned in the list of new money transfer tariffs as new members by mistake, explained PayPal press office chief Marc Jaugey.

At the same time PayPal described Russia and Ukraine as “interesting markets which the company has been studying very carefully”. We are looking for ways to provide PayPal services in all countries where they are in demand, but it will take a while. Stay tuned, recommends Jaugey.

A week ago PayPal web site published new money transfer tariffs that will come into force on September 24. Russia and Ukraine featured there among PayPal destinations.

The PayPal’s decision to start business in Russia would allow using online stores at eBay.

PayPal’s appearance in Russia seemed long overdue. In 2006 the company introduced a Russian-language interface and started to accept payments from Russian credit cards. Up to this it was impossible to buy goods at the online stores operated by the system, including its parent company eBay.

Russia has one of the fastest growing e-payment markets in the world with the number of subscribers exploding over the last three years.

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