California-based online payments and money transfer service PayPal launched services in Russian rubles on Tuesday, The Wall Street Journal reported. The announcement comes one year after PayPal opened an office in Moscow.
“Our task is to make Internet shopping easy and simple for the Russian clients,” Vladimir Malugin, PayPal’s Russia regional director, said in the report.
The move comes at a time when Russia’s middle class is shopping more online. For more about how the launch fits into PayPal’s broader strategy, click here for the full report.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.