Bitcoin can make a huge splash in areas where financial infrastructure is difficult or impossible to access for everyday consumers. There are plenty of underbanked and unbanked countries around the world and plenty of opportunities for Bitcoin adoption to grow. Sometimes, a helping hand from an unwilling partner might do the trick as well. Paypal is no longer offering their services in Puerto Rico, opening the door for Bitcoin to take its place.
Paypal Exits Puerto Rico After Policy Update
Online payment services have become an integral part of the lives of everyday consumers. Paypal, one of the world’s most popular online payment platforms, has become a household name is nearly every country around the world. But sometimes, even companies like Paypal have to rethink their business model and cut their losses in certain countries.
Person-to-person payments will no longer be available for payments sent from Puerto Rico, starting on October 30, 2015. The reason for this decision by Paypal is quite simple: the Puerto Rican legislators decided to raise person-to-person transfers taxes by an additional 2%. Even though this change had been coming for quite some time, it will only