PayPal Sends Money to the Philippines!
Oh my God. This is the gamechanger. Philippine PayPal users can now receive money.
Let that sink in for a second. Rural Filipinos can now sell their towns’ products directly to the world over eBay. Talented Filipina babes can become the next Happy Slip by posting their videos on Revver. The Philippines — indeed, individual Filipinos — can finally earn money in the global Long Tail of ecommerce.
My mind is now racing with the possibilities for my fellow Filipinos. For years, the government has talked big about globally empowering Filipinos through ecommerce. Guess what: the power is here.
Now the task is to show people how to use that power. Filipinos are so used to the oppression of the middleman that they’ll have to learn how to live with disintermediation.
I want to name so many more sites where Filipinos can make money through PayPal, but I can’t. I know they’re out there, in the thousands. I just haven’t kept track of them. We’ve lived without PayPal for so long, we’ve ignored all PayPal revenue sources. We all have to get used to the light after years in the darkness.
(Via John Cuneta.)
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About the Author
Mike Abundo serves as Vice-President for Online Services of the Philippine Internet Commerce Society. He also writes for Inside Online Video and Tech Side Up. Email him at mike@mikeabundo.com.
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[...] Abundo was most poetic about it: Let that sink in for a second. Rural Filipinos can now sell their towns’ products [...]
Mike, thanks for this alert. Can you enumerate the many sites any of us can use to earn money?
Omg, that is such great news! I somehow thought at the beginning that we are so far behind, and this definitely puts an individual Pinoy’s foot forward into the global economy **finally.
I’m so excited, I can think of a hundred things to sell. Thanks for the alert, Mike! And more power to your site.
Finally, It’s here. This would be a great opportunity for every local netizen. Now, I do not want to become the party pooper but, do we have any local laws that help facilitate this new medium of enterprise. Call me uncooperative but I hate taxes!
How does it works? Does it get credited to your credit card or a bank account?
Hi CG,
Sadly, we do not have laws to regulate (if you will) this new ‘zone’ that has opened before us.
SCAMmers - which will destroy our reputation (again!)
Schemes
The question of “taxes”.
How in-line is this with PGMA’s “CyberCorridor”?
Can our laws (and e-commerce law for that matter) protect Filipinos who will jump and exploit this new zone for, who knows what?
And the list goes on. It’s like the first time the Philippines got an internet connection - we do not know what will come next.
Right now, I can say we are not obliged to pay taxes for our online income and businesses - being individuals and smaller than small businesses. But the government will surely impose taxes. Not just to us, but also to our buyers. Example, everytime I buy a product or a (online) service that is located within the EU, I also get taxed for it.
There are many scenarios and possibilities that we are only beginning to imagine and grasp, and we have not yet stepped or crossed the border to a full Philippine Online Economy and Market.
We can stand and watch and let opportunities leave us, or we can jump and exploit these opportunities together with the risks of being pioneers.
It’s up to each and everyone of us.
—
http://gameshogun.ws - Blognetwork
Withdraw to a credit, debit, or prepaid card…no deposit to a bank account yet. If you have a Unionbank EON account, it’s a debit card (a Visa Electron actually) - so it’s like depositing to your account and withdrawing in any ATMs nationwide.
Reston: Since PayPal wasn’t an option before, I didn’t keep track of sites that pay through PayPal. I know eBay pays mostly through PayPal, and Revver pays exclusively through PayPal. I’ve also switched all my AdEngage payments from check to PayPal.
Whenever Filipinos used to seek online business opportunities, they always had to write off sites that pay exclusively through PayPal. That’s a lot of sites. Now all those sites are open to all Filipino entrepreneurs — from artists to entertainers to retailers.
MIKE T.: As Reine points out, payment is to card. I must credit Unionbank for having the foresight to make their debit card Paypal-compatible early on.
Credit card companies must now do something very counterintuitive: sell cards not as a way to spend money, but as a way to earn money.
Reine: This should be an impetus for smart local banks to come up with PayPal-compatible debit cards.
[C]hicken [G]od: The first order of business is business. Bureaucracy can come later once business gains momentum.
JC: Yup, we’ve got to jump this thing. The biggest task now is teaching Filipinos how.
Belle: Sell away.
[...] the talk of the Philippine blogosphere. PayPal has now accepted Philippines as one of the countries allowed to receive payment through [...]
At least now there’s more options for filipino bloggers to make money rather than just adsense. Does anyone know where to find a full list of supported banks?
[...] Mike says it best: Let that sink in for a second. Rural Filipinos can now sell their towns’ products directly to the world over eBay. Talented Filipina babes can become the next Happy Slip by posting their videos on Revver. The Philippines — indeed, individual Filipinos — can finally earn money in the global Long Tail of ecommerce. [...]
@syl3rblade
I am compiling it. Will be posting the first batch today.
Ok it’s up… here.
Please help to make it informative. If you confirmed new card services supporting PayPal Withdraw/Fund Transfer, please tell us.
At last!!! This could not come at a better moment. You can say that I’m on of the RURAL FOLKS (though residing in the city) and I’m very new to this and I don’t really understand how the selling part and converting it to cash works. As in what type of account to open, is it as a business or individual, where and how to convert the payments to our dear peso. I hope you can explain it to us and help us get things to snowball! Thanks a lot in advance.
[...] money to a local bank or receive a check from PayPal. But that’s a start. First heard from Mike Abundo. Now on to some e-bay shopping. Share and Enjoy: These icons link to social bookmarking sites [...]
This is nice .. and good for Filipino Blogger.s
@JC John SESE Cuneta
Thanks for the list.. My 2nd adsense earnings will go straight to my bank yay!
[...] Paypal sends money to the Philippines [...]
Isn’t paypal evil in what it does, I mean with the addiitonal fees it has? Whats the status on Google Pay system? I think thats more viable than paypal.
[...] can now receive payments through their paypal accounts! You can read about it here, here, and here. Things are looking up for the money making sector of the Pinoy [...]
Mike, thanks for your very informative response. In case you come across some of those revenue-earning sites, would you be nice enough to compile them for us? I don’t know what to look for if I do it myself. And if you do come up with a partial list, would you be nice enough to post them here? I need to do something to add to my low income to support my family. I’ve been looking for ways to get extra money using the internet but I have no idea where to begin. Thanks in advance to you and to all who will contribute to this effort.
Reston
[...] blog, The Mike Abundo Effect, cannot hide its excitement over the possibilities: Oh my God. This is the gamechanger. Philippine PayPal users can now receive [...]
A detractor of PayPal (who already has a PayPal account) was not too impressed at this new development. He said that you really cannot withdraw money from your account without needing a credit or a debit card… or a bank that’s recognized by PayPal. He also said Paypal doesn’t allow bank transfers for Philippine PayPal account holders, unless you have one of those Visa electronic-enabled debit cards like from the Union Bank’s EON.
Pinoy Tech Blog also has this negative thing to say about this:
“Despite the fact that you can now send and receive funds via Paypal, there is no practical way to getting those funds locally, unless of course you have a US-based bank or a US-based credit or debit card…
Even if us Filipinos can receive payments via Paypal, the only way to can easily dispose of those funds is by using it to purchase services or goods online as well. This makes the recent limited support practically useless to 99.9% of Filipino Paypal users in the country.”
More complaints against PayPal can be read here.
@Reston
You DO NOT need a US-issued Credit/Debit/Prepaid card. Do not confuse it with a US Bank for ATM/Cheque/Savings account.
You CAN NOT transfer funds from your PayPal to your ATM/Cheque/Savings account unless your Bank Account is from a US Bank based in the US.
You CAN send your PayPal funds to your Philippine-issue Credit/Debit/Prepaid cards.
I explained it already here: here and here.
And the list is being updated as new information arrives. It is all confirmed, we do not add a new bank unless it was confirmed by the Card service “clearly” or tested manually.
As much as we’d like PayPal to allow us to remit our funds to our Philippine-based bank accounts (and you can bet other people from other countries do, too), one thing to realize is that it took years for PayPal to finally take a chance and allow us more “privileges”. PayPal can very well take those privileges away, especially if their stats indicates too much risk from us after a period of time.
So far using a VISA-enabled debit card seems to be the way to go for us. Also, there’s a service called Xoom.com that allows PayPal users to send money to their accounts at a certain fee (since it’s free to sign-up).
Look on the bright side: at least we have more options now.
Here’s a new way for people to make PayPal revenue through video embeds: AdHoc. I’ll be trying this myself over the next few days.
Mike, thanks for mentioning one way of earning revenue online.
Here are a few more sites where you can earn money:
1. Squidoo
http://www.squidoo.com/browse/homepage
Historical Adsense Payouts, Buying and Selling lenses, Affiliate payouts and more make up the mountain of ways you can make a few bucks using Squidoo. For more details on how you can monetize your contributions to Squidoo, refer to this page:
http://www.squidoo.com/squidconomy
2. Metacafe
http://www.metacafe.com/
Metacafe has a reward system that contributors can avail of called Producer Rewards program. It rewards contributors for creating and submitting great videos. If your video has what it takes to entertain people, Metacafe will license it and pay you for every view. Every time someone watches your video on Metacafe, you earn money.
Metacafe will pay you $5 for every thousand views. Payment starts after your video reaches 20,000 views and has a rating of 3.00 or higher. On top of that, the license to Metacafe is a non-exclusive deal - you retain ownership of your video. Metacafe helps build your brand by marketing your content and making you money. There are well over 1 million unique users per day watching over 400 million videos every month at metacafe. For a video to qualify for Producer Rewards, you must own all the rights to the video and the video must meet certain content guidelines. Read here for details:
http://www.metacafe.com/producer_rewards/tips/
heads up..
Just want to share my successful withdrawal from my paypal to my unionbank eon card.
[...] If other banks don’t act fast, UnionBank might quickly secure a monopoly on PayPal funds newly flowing into the Philippines. [...]
Updated the list. Click here.
ang oa ng reaction
hehehee
[...] you want cheap, easy access to PayPal funds newly flowing into the Philippines, open an account with any of these banks. Smart Philippine banks will [...]
[...] Finally, Filipinos can now participate in online earning programs that pay through paypal. Here are some online earning programs and companies that Filipinos can now take advantage of now that paypal is here: [...]
Good day,
I have already a paypal account and I apply in Union bank for an eon internet banking. But when explore paypal, I noticed that Philippne currency is not supported with paypal. The Union bank eon is in Peso, while paypal is in other major currency. Isnt it a conflict? Will it not yield a problem to us? I am not yet using my eon account in paypal because I don’t of what currency should I chooce from. Pls help me with this. Thanks.
Herbin: I haven’t encountered any currency conversion problems so far.
I’ve successfully added my eon to my paypal account. After two business days, (May 10) $1.95 appeared on my paypal account as expected. A week had already passed but the money on my bank account is still $1.95. I was expecting that the money on my eon account (P3000) will be transfered to my paypal in dollar currency. How many days should I wait to see those numbers on my paypal account? Should I made any transaction (transfer) from my eon to paypal? I’ve browse the eon website but I cant find any link to the particular transaction. What should I do? I really have to transfer my money to my paypal account to buy domain names abd earn money online. Thanks.
I don’t deposit funds from Eon to PayPal, Herbin. You can’t, and you don’t have to.
Whenever I pay for something through PayPal, I just use my Eon card. It’s a per-transaction thing. Go ahead and buy your domains.
Thanks Mike.
Mike its me again. I try to buy a domain names but this what i’ve got. What does this mean Mike?
This payment cannot be completed because your credit card has been denied by your credit card issuer. For details on why your card was denied, please contact your credit card issuer’s customer service department. You may want to try using a different credit card or choose eCheck instead. To do this, please click the More Payment Options link.
Mike what do you mean of “per transaction thing”.
Help me pls.
I mean you don’t have to put funds in your PayPal account before making a PayPal purchase. You can have PayPal charge your card right at the moment of purchase, per transaction.
As for that error message,
I suggest you do exactly what it says: contact your credit card issuer’s customer service department.
[...] Mike Abundo has promised to post some site which receives only paypal [...]
yahoo i like paypal
I’m selling my Paypal credits. Anybody interested? I accept payment through Gcash.
$1 = P46
Im also selling my paypal credits. i accept payment through smart money. need lang money asap for emergency purposes
$1= P42