Friday, October 14, 2011

Paypal increases Receiving Limit to USD 3000 for Indian Users.

The Payment Gateway "PayPal" has increased the payment Receiving Limit to $ 3000 USD for the Indian Users.

At the end of January month PayPal had added many restriction for the Indian users. One of the Restrictions is the $500 USD limit for receiving the payments.

Now, PayPal has increased this limit from $500 to $3000 which will will be welcomed by Indian PayPal users as well as by the Buyers from many countries who faced difficulty for paying more than $500 for the Goods/Services bought from Indian merchants.

Mayur Patel, India country manager of PayPal is published below blog post.

We’ve been notified by the Reserve Bank of India (RBI) that our merchants in India can receive export-related payments for goods and services into their PayPal account up to USD 3000 per transaction (raised from USD 500 per transaction), effective immediately. This is great news as the vast majority of our merchants in India can continue to use PayPal for their online payment service with overseas customers.

Over the past few months, we have received feedback from our merchants in India and shared it with the RBI. We are thankful that the RBI has responded in a positive way and increased the transaction limit to better enable entrepreneurs and small and medium sized businesses to conduct cross-border trade.

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