Payments company PayPal Holdings Inc has stopped providing services to Russian customers since Saturday, March 5, joining many financial and technology companies that have suspended their activities in Russia after the invasion of Ukraine. “Under the current circumstances, we are suspending PayPal services in Russia,” President and CEO Dan Shulman said in a statement, quoted by Reuters.
According to him, the company “is in solidarity with the international community in condemning Russia’s violent military aggression in Ukraine.” The statement states that PayPal will support withdrawals from accounts by Russian customers “for a certain period of time.” Earlier, on March 2, the service stopped registering new users from Russia.
The suspension of PayPal’s activities in Russia extends to its Xoom money transfer tool. Competitors Wise and Remitly have also previously suspended certain services in Russia.
Collected to help Ukraine 150 million dollars
In Ukraine, they called on PayPal to leave Russia and help them raise funds. The company said that “since the invasion began, PayPal has helped raise more than $150 million for charities supporting efforts to clean up the aftermath of the war in Ukraine.
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