as of July 31, the payment service PayPal has ceased internal transfers in Russia. This is due to the changes in the law “About national payment system”, which prohibit share transfers of Russians abroad. Meanwhile, experts believe that under the guise of fighting for the protection of confidential information the Russians may be hiding the irrepressible passion of the state to monopoly. Innovation is unfavorable for foreign payment systems and, on the contrary, gives a “green light” to domestic operators.
the Released niche, obviously, will take Russian players, and customers who have used PayPal services for internal transfers will have to go to service to them.
“in order to fulfill the obligations for the withholding of data abroad, the company needs to create an entire storage infrastructure in Russia, — says a leading analyst of the Forex Optimum Ivan kapustyasky. — These costs apparently were not comparable with the income earned and the company has decided to curtail operations”. It turns out, in order not to violate the law, it is easier to give up entirely on domestic payments than to redesign business processes.
Neither for the company nor for Russian consumers care systems with the internal market of payments will not be a serious loss: they only used it very few in the country, preferring other e-wallets, says the head of analytical Department AMarkets Artem Deev.
Indeed, the Russian market for American companies is not a priority. She works in 202 countries, with 25 major currencies. According to PayPal, the share of profit for domestic operations is not more than 4%. The company specializiruetsya international payments.
“For the Russian market, this event is not too noticeable. PayPal does not take serious positions. In 2018, the CBR has excluded PayPal from the registry of important organizations in the market of payment services. It consisted of operators occupying a “more than 2% of the volume of the electronic transfer of funds using prepaid cards,” reminded the chief analyst of Teletrade mark Goikhman.