Originally posted on Quartz:
Adding to their list of woes, Greeks can no longer use their PayPal accounts.
Limits on how much money Greeks can take out of banks put in place by their debt-stricken government as it negotiates with lenders have effectively crippled the online payment service, which relies on traditional banks and credit cards to transfer money.
According to a PayPal spokesman:
Due to the recent decisions of the Greek authorities on capital controls, funding of PayPal wallet from Greek bank accounts, as well as cross-border transactions, funded by any cards or bank accounts are currently not available. We aim to continue serving our valued customers in Greece in full, as we have for over a decade.
The economic crisis in Greece is obviously not emblematic of the greater global financial system. But the fact that PayPal’s business has ground to a halt there underscores how much it and other financial technology companies are…
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