Digital Affairs Ministry resumes dialogue with PayPal

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The Ministry of Statistics has started the next round of talks on the launch of PayPal in Ukraine

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The Ministry of Digital Communications again began talks with PayPal: Will they start service in Ukraine. Photo: newsone.ua

The Ministry of Digital Transformation has resumed negotiations with the PayPal payment system, currently discussing its possible entry into Ukraine.

The department reminded that in January this year, President Vladimir Zelensky had already applied for a job in Ukraine with the head of PayPal and received a response that “such an opportunity is being considered.” Also, the ministry said that they are considering the possibility of attracting Striped and Vepulus payment systems.

PayPal is the largest electronic payment operator. The system allows customers to pay bills and purchases, as well as send and receive money transfers.

There has been talk of launching PayPal in Ukraine for a long time. In February 2020, the founder of Monobank Dmitry Dubulet, who was then minister, said Ukraine was not interesting for the payment system. According to Dubulet, there are no regulatory restrictions for PayPal to enter the Ukrainian market. A company can come to Ukraine when it sees the economic growth of our country.

The reference PAYSPACE magazine

Recall, PayPal is preparing to enter new transactions, absorbing smaller companies in its industry. Such schemes are explained by market activity – mergers and acquisitions are becoming more and more frequent in the area of ​​payments.

Over the past two years, PayPal has been actively involved in this trend. Excluding transactions of $ 1-3 billion annually. The company’s financial department estimated that a total of $ 7 billion was spent on the acquisition.

Read: PayPal has launched QR code payment in 28 countries


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