The internet business isn’t that popular here in the Philippines and one of the primary reasons is the lack of payment options. Getting his earnings or compensation is big problem for a Filipino freelance worker because there are only few people from other countries that are willing to pay through Western Union, Xoom and other remittance companies. There are online payment solutions that allow Philippine accounts to send, receive and withdraw money with their accounts like Epay and Money Bookers but only a few people abroad use them.

Paypal is the most famous payment option in the internet today. With a user friendly interface and a secured system, it just beats the competition by a mile. Paypal became available in the Philippines the second half of 2006. However, a Philippine Paypal account cannot upload funds but instead, directly charge the account holder’s purchases from his credit card. This did not solve the problems of online Filipino entrepreneurs at all. Good thing I convinced my Aunt to open a Canadian account under her name for me. It really helped me a lot and I got to use it for four months.

Recently, Paypal Philippines stepped up to a new level as a Philippine account can now send, receive and withdraw funds. This is what the Filipinos have been waiting for centuries and now it has happened. The only problem that I can see is that you can only withdraw funds through Visa debit and cards or a US bank account. But still, this is one of the greatest news I’ve heard for quite a while. The implementation of the new features of Philippine Paypal accounts is expected to dramatically increase the number of Filipinos that earns through the internet. Could this be the answer to Philippines’ falling economy? In my opinion, it is possible because this can bring billions of dollars in our country. Much like OFW’s I guess. Oh well, time for a grand celebration for the new Paypal Philippines

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