PayPal in Talks with Russian Post to Provide Services – Paper

MOSCOW, March 26 (RIA Novosti) – PayPal, a leading global online payment system, may provide all its services in Russia with the help of the Russian Post, the country’s state-run postal operator, by prepaid cards attached to the system’s electronic accounts, Kommersant business daily reported on Monday.

The Russian Post is considered to be a strategic partner for PayPal’s services in Russia, as it has a wide chain of branches and can indentify clients, while receiving mail, PayPal Vice President Lauren Le Mole said.

During their talks, PayPal and the Russian Post discussed prepaid cards, which would be issued to pay for purchases on e-Bay and other online stores. Card balances could be funded from PayPal electronic accounts. Customers will be able to use such cards as common credit cards too, Russian Post’s financial department head Vyacheslav Avdyukov told the paper.

PayPal, owned by eBay, which partially launched its services in Russia last March, became partially available for Russian users in October 2011. Russian clients can only put money on accounts in American banks, a difficult task for Russians, as U.S. banks require proof of local residence or a social security number.


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