The money transfer service PayPal is still not completely available to Montenegro citizens, although the global service has been present in Montenegro since June 2014.
Montenegrins can only pay through PayPal, the globally accepted and one of the safest systems of sending and receiving money via the internet.
PayPal has stated their ambitions is for everyone to ultimately have access to their services for digital payments and trade, in line with regulations.
“We are continually working on developing strategic partnerships, addressing business opportunities, regulations, needs and demands,” said for Vijesti PayPal chief of communications for northern and central Europe Galina Skatkina.
Due to the inability to receive money through PayPal, Montenegro citizens have less opportunities to earn form internet jobs. In addition, the service would make foreign transactions to Montenegro easier, and fees would be lower. Entrepreneurs would thus have an easier access to the global market.
Communication with Pay Pal representatives was handled by the Information Society and Telecommunications Ministry. After it was abolished near the end of 2016, its duties were divided up between the Economy Ministry and Public Administration Ministry.
The Public Administration Ministry stated for Vijesti PayPal is a private company, profit oriented and has its own business rules.
“The practice of this company in the first period is to only enable the send service. We expect in the coming period for the functionality to expand to the receive function, enabling Montenegro companies and citizens to use the service to charge for their goods and services, but this depends solely on the company,” the Ministry said.
Montenegro expected the PayPal receive service to be enabled in 2014 together with Serbia, but the reason given was problematic legal regulations. It is speculated the reason is also the European Commission rating that money laundering in Montenegro is “a serious concern.” Montenegro and Macedonia are the only countries in the region with a complete PayPal service.
Translated from Vijesti Online, for the original click here.
