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PayPal India Blocks Personal Payments to and from India

Posted on : 11-02-2010 | By : rituraj | In : General

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PayPal is the easiest and safest online transaction platform for receiving and paypalsending money through internet. PayPal which is part of eBay Inc group has now blocked personal payments to and from India over some new licensing rules and guidelines by Reserve Bank of India (RBI).

In addition, it has also suspended the bank transfer options, which is causing a lot of problems to small customers and particularly freelancers who are unable to withdraw funds in their bank accounts.

However director for global communications at PayPal, Anuj Nayar assured that local bank withdrawals will be made available in few days and they are in process of talks with their banking partners.

But the personal payments service will remain suspended for coming months until they do not get solutions with regulators.

PayPal India has a relatively smaller market. In 2008, out of total $60 billion in online transaction, around $4 billion was from Asia and the majority was from Australia.

Australia is fourth largest market of PayPal after US, Canada and UK.

Do you have any updates on this issue, please post in the comments and let us know :)

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Comments (1)

Sonia said on 05-08-2010

A new fact about Pay Pal :

I applied for a charity account with Pay pal because its free and supported by vbulletin software for payment subscription, I have all the documents like NGO Registration certificate, Memorandum of Society, Society PAN card, and the Bank details , bank details were verified by the Pay Pal by depositing amount of Rs. 2 and 40 paisa, after submitting all the document as per said in their website and in their emails, they denied me for the account, just because they have no tie-up with India regarding charity account, what the hell is this, why the pay pal people should not mention at the time sign up process. I have wasted around 1000/- rs in doing fax to pay pal and after 4-5 days they denied.

Don’t apply for a charity account with pay pal if you are living in India. Just wastage of time and money.

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