×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

PayPal to Work With Postal Service

Electronic payment system PayPal will enter the Russian market in a strategic partnership with the postal service and plans to issue cards linked to users' accounts, Kommersant reported Monday.

PayPal vice president Laurent Le Moal said PayPal sees Russian Post as a "strategic partner for providing services in Russia because it has a well-developed network of branches and possibilities for identification of clients, for example, when people are sending letters."

The postal service and PayPal discussed plans to release a co-branded "Russian Post-PayPal" card that can have the balance filled from PayPal accounts and could then be used to pay for postal services, make purchases or withdraw funds from an ATM, said Vyacheslav Avdyukov, head of financial services at  Russian Post.

PayPal, who initiated the deal, began its entrance into the Russian market several years ago when it allowed local account holders to register with the service for online purchases at sites like eBay and other Internet stores. In October, PayPal began allowing Russian customers to receive funds as well, opening the possibility for selling items on eBay.

According to market research company comScore, PayPal has a growing base of 106 million active accounts and more than 237 million unique visitors, Kommersant reported. Russians account for only 3.19 million of those unique visitors — a number that has fallen 8 percent in the past year in comparison with overall growth of 12 percent.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more