Manage uncertainty, mitigate risk with a cross-border strategy

Feb 19 2021 | PayPal Editorial Staff

Toilet paper, face masks and disinfectant wipes. These weren’t the first items that came to mind for most online retailers at the start of the year. But they’ve become the defining shopping categories of 2020. From Wall Street to Main Street, every facet of the world's economies has been turned on its head. It’s a time that’s given all of us pause.

The Great Pause

While no one can be certain how all this will play out, there are some key trends to keep an eye on as commerce resumes and starts around the globe, and the world discovers its “new normal.”

What’s still true

Even after the threat of COVID-19 subsides, the potential for external shocks like geopolitical events, trade wars, even new pandemics may continue to impact economies – and potentially your business. Pursuing a cross-border strategy now can put you in a stronger position to respond, both to the near-term developments we foresee and the longer-term events we can’t.

How a cross-border strategy can be a source of strength

From PayPal’s point as one of the world’s largest online payments platforms, they have seen the power of a smart cross-border approach in transforming small online businesses into vibrant international merchants.
In times of economic uncertainty, a cross-border strategy can prepare you to take advantage of favourable conditions in specific countries and regions, making your business more resilient. For businesses seeking to expand their footprint internationally, this report will help you understand some of the most relevant seasonal, cultural, behavioural and technological differences that could give you an edge when breaking into new, unfamiliar markets.

Download the full 2020 PayPal Borderless Commerce Report below. Discover international opportunities in 12 key markets around the globe and understand the cultural and seasonal nuances that will help you connect with buyers in these markets effectively.

Download your report today.

By clicking the button below, you give your consent to receive emails or calls from PayPal about our products and services and agree with PayPal’s Privacy Policy and Terms and Conditions.

Use our interactive map to explore the countries and regions in our report.

2 PayPal commissioned Ipsos MORI PayPal Insights 2018. n=34,000, 31 markets. Online survey of adults (aged 18+) between March — May 2018.

Frequently asked questions.

If you've already confirmed a credit or debit card
If you’ve already added and confirmed a card on your PayPal account, your account should be verified now and ready for use. You don’t need to wait for the 2 small deposits to confirm this bank account. 

If you haven't confirmed any card or bank account
If this bank account is the only financial information on your PayPal account, please wait for 5 business days for the 2 small deposits to appear in your bank account. You can check your online statement or contact your bank directly to find out the exact amounts of these deposits.

After you receive the 2 small deposits, you can complete the bank account confirmation.

If you only receive one deposit, please contact us with that amount and we can help you confirm your account.

You first need to add your bank account to your PayPal account.

To confirm your bank account, we'll deposit 2 small amounts (each between 0.01 and 0.99 SGD) into your bank account. These amounts will show on your bank statement within 5 to 7 business days. You can review your bank statement or contact your bank to find out the exact amounts of these deposits.

With this information, you can complete the confirmation process online. Here’s how:
  1. Click Pay & Get Paid at the top of your account.
  2. Under 'Wallet', click Banks and Cards.
  3. Click the bank account you want to confirm under 'Bank account'.
  4. Choose the bank account and click Confirm.
  5. Enter the decimal digits of the two deposit amounts. For example, if the amounts you received are 0.12 and 0.07, enter 12 and 07.
  6. Click Submit.

You’ll know if an email is from PayPal when:

  • You see your name or your business name in the email. We always address you by your full name or your business name as registered on your PayPal account. We’ll never use generic greetings like "Dear user" or "Hello PayPal member".
  • We’ll never ask you to include your financial information, your password, or the answer to your PayPal security questions in your emails to us.
  • We’ll never attach any software updates in our emails and ask you to install it to your devices.

If you receive an email notification about your transaction, always go to your Activity page to confirm the details of the transaction. Don’t provide any information without prior checking your PayPal account.

If you think you’ve received a suspicious email, don’t edit the contents or subject line. Please forward the original email to us at and delete it from your inbox right away. 

Learn more about PayPal online security in Singapore.

Yes. If you've lost or are unable to locate your confirmation code on your card statement, you can request a new one.

Here's how to request a new PayPal code to confirm your credit card:
  1. Go to Money.
  2. Click the card you want to confirm.
  3. Follow the instruction to get a new code.
You can request a new PayPal code up to 2 times. When you request a new PayPal code, we'll charge your card another 3 SGD. The previous PayPal code expires and only the code generated from the latest request is valid.

This charge and a 4-digit PayPal code will appear on your card statement within 2 to 3 business days. The code sequence appears as PayPal*1234CODE. You'll need the first 4 digits to confirm your card. We'll refund the charge to your credit card once you have confirmed your credit card. This may take up to 30 days to appear on the card statement.

If you can't access your card transaction history or online statement, or if this 4-digit code is unavailable online, check your next paper statement or contact your bank for this code. Please allow up to 3 business days after requesting the confirmation before you contact your bank. We cannot provide you with the 4-digit confirmation code by any other method.
The contents of this site are provided for informational purposes only. The information in this article does not constitute legal, financial, IT, business or investment advice of any kind and is not a substitute for any professional advice. You should always obtain independent, professional accounting, financial, IT and legal advice before making any business decision.