In the country where I am located, one way for me to receive payments from contacts abroad is through PayPal. But I received payments in dollar and had to open a dollar account to withdraw the payments I got from PayPal in my local currency. But that will change now as PayPal has added 5 new currencies that it supports including – Brazilian Real, Malaysian Ringgit, Philippine Peso, Taiwan New Dollar and Thai Baht.This makes the number of currencies that PayPal now supports to 24 all in all. Previously PayPal supports the U.S. Dollar, Australian Dollar, Canadian Dollar, Hong Kong Dollar, Singapore Dollar, Taiwan New Dollar, New Zealand Dollar, Euro, Swiss Franc, Czech Koruna, Swedish Krona, Danish Krone, Norwegian Krone, Hungarian Forint, Mexican Peso, Philippine Peso, Malaysian Ringgit, Chinese RMB, Israeli New Shekel, Pounds Sterling, Brazilian Real, Polish Zloty, Thai Baht and Japanese Yen.
In addition, PayPal has also rolled out its PayPal X global payments platform for use by third-party developers. To kick this out, PayPal has made available the first API under PayPal X which is the Adaptive Payments. This scheme automatically converts currencies using live exchange rates.
This opens up possibilities for developers to create multi-currency applications using PayPal X.
Are you using PayPal? Is your country’s currency one of the currencies supported by PayPal? If not, what online payment system are you using to receive payments internationally?