Today PayPal had sent below email to all its Indian Users.
In summary, starting from March 1st Indian PayPal users can not use paypal for making payment for Goods or service. And, the paypal payment should be transferred to Indian bank account within 7 days.
And, transaction amount should not exceed $500 USD.
And, paypal official blog is having below FAQ.
Indian paypal users are frustrated with this announcement and we can read the discussion about this issue here.
So, Indian users should link Credit Card with Paypal to continue their business normally.
While this announcement gives trouble for Indian user, users from other countries such as United States welcome this announcement. They are telling that these new rules will reduce payment frauds, because credit card should be linked to the paypal account.
What do you think about these new rules? Share your comments. Remember to specify your country name.
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