Recive money in Macedonia through Paypal

[z_veljjanovski]

Is there a way to recive money in Macedonia through Paypal

[MadBuldog]

Don't bother asking, they made their decision a long time ago. Even when all of the conditions exist (Like local regulation and opportunities), they still chose to ignore any potential expansion to this local market. 

I can strongly recommend Payoneer, I've been using it for almost 3 years now on a monthly basis without any problem and even it has a debit card that you can use on any ATM in the country. Also If you need to receive money from a business account from USA you can with Payoneer since it supports Wise and other payment platforms.

The only way that I can see PayPal offering the service for receiving money to Macedonia, will be when (or if we ever) join the EU and the open market as a as a member state of the EU. Then they will have to offer it as a part of the internal EU market place regulation, and even then they will probably stretch to the maximum allowed time span to integrate a new member market into their platform. (probably like +7 years from the date we potently enter the EU as full member country). We are just a small worthless market for big corporations and that's why they take the long way around our small market place, by the end of the day it's the overall payment potential of every single individual that's weight in and for them it's a small income that they can easily live without. That's why you'll never see big brands like IKEA, LIDL and others opening their own shops locally when they can cover the small population with their current shops in surrounding countries. Current big brands are present in the country because of franchise brand deals made with them by a local corporation not because they chose to be present in our small local market.

So instead of hoping for the best, prepare for the worst and find yourself an alternative to receive money in Macedonia,

[AleksejK]

Hi, they've made some regulatory changes in the banking system and they will be put in force from January 1st 2023.

Translation:

The Council of the National Bank adopted a set of by-laws that operationalize the new legal framework in the payment sphere established by the Law on Payment Services and Payment Systems, the application of which will begin on January 1, 2023. The application of the new legal framework is expected to strengthen the competition in the market of payment services by enabling the entry of new payment service providers who will have to obtain the appropriate permission from the National Bank.

Thus, from the beginning of next year, in addition to banks, payment institutions, savings banks, and electronic money institutions will be able to provide payment services. The new competitive environment is expected to motivate existing and new payment service providers and payment system operators to offer customers innovative solutions for making faster, more convenient and cheaper payments.

To perform payment transactions, citizens and businesses, i.e. legal and natural persons, will be able to open accounts with payment institutions and institutions for electronic money. The funds of legal entities and individuals on these accounts will not represent deposits and no interest will be calculated and paid on them. Also, the funds at payment institutions and electronic money institutions will be protected, by being kept in separate accounts in the National Bank, in commercial banks or savings banks, and will not enter the bankruptcy or liquidation table in case of termination. with the work of the institution or the bank and savings bank where they are kept.

Does this mean we'll finally be able to receive money through Paypal?

[MadBuldog]

It's more likely that they might even terminate the current option to just pay through PayPall.

With this new legislation basically they will be limited in the way they currently use the money that we pay through PayPal, because the funds will have to be "kept in separate accounts in the National Bank, or in commercial banks or savings banks," also now they will have to obtain a permission to operate for our market, that will probably include some kind of fees "The application of the new legal framework is expected to strengthen the competition in the market of payment services by enabling the entry of new payment service providers who will have to obtain the appropriate permission from the National Bank.", and this just might be too much to be bothered with for them so I can see only terminating any payment options with our country as the only option for their corporate management as the only logical solution.

I wish I'm wrong and that the processes would go for the better from now on, but I learned from my life experience it's best to prepare for the worst, because one day the worst will arrive at your doorstep.