PayPal services to and from India to remain suspended for months

The Internet payment gateway says that its services to and from India will remain suspended for a few months due to revised licensing rules

Popular electronic payment gateway PayPal Inc has said that personal payments to and from India will be suspended for at least a few months until it fully resolves the questions from Indian regulators.

In a blog, Anuj Nayar, director for global communications at PayPal, said that it temporarily suspended local bank transfers and personal payments to and from India to respond to enquiries from Indian regulators, specifically questions on whether personal payments constitute remittances into the country.

"We’re working with the regulators and our bank-processing partners in India to get this resolved as quickly as we can. We realise that this is causing considerable inconvenience to our customers and I want to reassure you that this is a top priority for the leadership at PayPal," Mr Nayar said.

Officials from the Reserve Bank of India (RBI), who previously told Moneylife that the central bank had no idea why this was happening and PayPal doesn't come under RBI's purview, were not immediately available for comments after PayPal admitted that there was some issue with Indian regulators.

Talking about the availability of local bank withdrawals in India, Mr Nayar said that customers should be able to transfer their funds to a local bank within the next few days. "In the meantime, we’re going to restore the money into the PayPal accounts of any customers in India who have initiated a recent withdrawal, so they know that the money is safe in their accounts. Customers will also be reimbursed for any withdrawal fee charges," he added.

In case of any PayPal reversal that has left many customers in India with negative balance, Mr Nayar has advised them to contact the senders and have them resend the payment for purchase of goods or services by clicking on the 'Send Money' tab and selecting 'Purchase'. However, in case of a personal payment, he said, "The sender will need to find another payment method until we restore the service.”

"If you can’t recover the funds from the sender, you can bring your PayPal balance current by logging into the PayPal account and clicking the 'Resolve Negative Balance' link on the ‘Account Overview’ page," Mr Nayar said.

 

User

COMMENTS

Zakir

7 years ago

Its shameless for paypal without any notice they suspended the transaction to Indian paypal accounts.

Rakesh Sharma Jack

7 years ago

Simply pathetic I must say...majority of people who are using PayPal are those who are proving their talents worldwide and such restrictions are proving to be a big hurdle in their way...what else we can do except to wait until this issue is resolved..literally in crossed-fingers position.

Navin

7 years ago

Yet another example of the high handed attitude of the regulators. You and me are also suspect in the eyes of the regulators and the people who matter in this country. Everyone trying to send money is deemed to be a terrorist or money laundered till proved otherwise. Mera Bharat Mahaan!!

Airtel, RCom join mobile apps store race

Bharti Airtel and RCom want to boost their revenues through mobile application stores, a strategy being adopted by Apple, Google, Motorola, Vodafone, BlackBerry, Sony Ericsson and Samsung

Telecom majors Bharti Airtel Ltd and Reliance Communications Ltd (RCom) have announced their plans to launch mobile applications stores, joining global companies like Apple, Google, Motorola and BlackBerry, reports PTI.

While Bharti Airtel launched Airtel App Central, RCom said it will introduce the first version of its mobile applications store under the Reliance Applications Store label in the country by the end of the month.

A mobile applications store is designed to enable developers to make available software and services like music, games, news and commercial applications to customers.

An expanded version of the Reliance Applications Store across CDMA and GSM handsets would be launched towards the later part of this quarter.

Airtel will offer over 1,250 free and paid applications across 25 categories like business, games, books and social networking, Bharti Airtel said in a statement today, adding that the cost would be automatically added to the customer's mobile bill or deducted from the available talk-time.

Airtel App Central will offer local and regional applications for customers across the country, starting at Rs5, it added. "With the Airtel App Central, India's first mobile applications store, we are offering a one-stop shop open 24x7 to meet all our customers’ personal device needs. We are empowering our mobile customers to transform their phones into smart devices with the click of a single button," Bharti Airtel president for mobile services Atul Bindal said while announcing the launch of the services.

"Applications Store has benchmarked the overall VAS experience of customers globally, and the launch of Reliance Applications Store will provide consumers a broad selection of relevant, fun and exciting applications to choose from in the easiest possible way," RCom president Mahesh Prasad said in a separate statement, announcing the launch.

RCom, through its Reliance Developer Program (RDP), has a community of over 10,000 individual and corporate registered developers.

Mobile operators and handset makers like Apple, Google, Motorola, Vodafone, BlackBerry, Sony Ericsson and Samsung have already adopted the mobile applications model to boost their revenues.
 

User

COMMENTS

Duraisamy P

7 years ago

I hope the strategic move of the company will yield the desired revenue and place the company in the limelight again to demostrate the best service provider

Google tries out a Twitter-killer with its 'Buzz'

Google's move to launch its 'Buzz' has come as a direct challenge to social-networking stars Facebook and Twitter. Both these sites thrive on enabling people to share experiences, activities and thoughts

Google is giving its free email service a 'Buzz' by adding social-networking features which could challenge the supremacy of platforms like Facebook and Twitter, reports AFP.

Google Buzz product manager Todd Jackson equated the enhanced offering to “an entirely new world in Gmail” during an unveiling presentation at the Internet giant's headquarters in Mountain View, California.

Buzz began rolling out on Tuesday with users of Google's Web-based email service getting updates about what friends are doing online and ways to share video, photos and other digitised snippets.

Google's move comes as a direct challenge to social-networking stars Facebook and Twitter, which thrive on enabling people to share experiences, activities and thoughts as they go through their days.

"It could render short-message sites like Twitter redundant," analyst Rob Enderle of Enderle Group in Silicon Valley said of Buzz. "MySpace and Facebook are safe for now. Folks put up much more personal content than the 140 characters you get on Twitter."

Twitter has become a global sensation by letting people share thoughts, observations or developments in terse text messages, known as tweets, of no more than 140 characters per message.

Buzz feeds Twitter missives into Gmail, eliminating the need for people to visit the Twitter website to post updates or see those sent by people they have selected to follow, according to Enderle.

 

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)