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Jul 31, 2020
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PayPal canceled internal transfers within Russia

The PayPal payment service has stopped internal transfers within Russia since July 31. From today only international payments will be available.

The company made this decision at the beginning of the month due to changes in the law "On the national payment system", according to which operators of electronic money turnover are not allowed to transfer data on domestic Russian money transfers abroad or provide access to such information from the territory of a foreign state.

According to Yegor Dakhtler, an analyst with the Investment Ideas Factory at BCS, the refusal to make payments within Russia will have practically no effect on the company's financial results, since the share of profit from these operations was only 4%.

- This is unlikely to have a significant impact on the translation market; users will go to competitors. I believe that in general, citizens will not experience significant inconveniences, - quotes an expert from RIA Novosti.

At the same time, as Life previously reported, the company will retain its office in Moscow.

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