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We got the scoop from an email from Philippine Internet Review blog , courtesy of Ms Janette Toral:
“A few days ago, I was chatting with a friend about this expected development – of an upgrade in Paypal.com that will include accepting new accounts from the Philippines.
Actually, it was just a matter of time and no lobbying influenced it – it is more of a practical decision for Paypal. Today though, the facility is limited to sending of money overseas, not acceptance.”