A renowned eBay company PayPal, has suspended personal payments from and to India and transfers to local banks in the country.The move to block personal payments to and from India was apparently a sudden one, even leaving commercial payments in no-man's land. Although merchants must provide proof of deliver in order to receive a payment to their PayPal account, they too will not be able to withdraw this amount from local banks.
Customer feedback of the inconvenience caused pegs the lack of providing an early notice of such a move and has resulted in a deadlock. In one case, customers have booked tickets online, which are to be collected at the venue, but the merchant has not received the amount in his PayPal ID because he is unable
to provide a 'proof of delivery' of the tickets sold.
This announcement was made by PayPal executive, Anuj Nayar on the Company’s Blog. He even said that the services have been suspended while the company works with its business partners and other stakeholders to address questions they have about the service and they did not say what questions have been raised. Customers can still make commercial payments to India, but merchants cannot withdraw funds in rupees at local Indian banks, they added.
Now they are trying to resolve the situation as quickly as possible and even apologized for the inconvenience that it may cause its customers in India and around the world. Most of the bloggers and Web sites have reported that the company has returned and reversed payments to senders.
At last, Mr.Nayar promised to update the blog very soon with the upcoming relevant information. Till date there is no official words from PayPal on which date the services will be restored.
Thank You
Rajni Sharma
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PayPal suspends service in India
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PayPal spokesperson from the communications team, Anju Nayar, said in a blog post Saturday that "personal payments to and from India and transfers to local banks in India have been suspended" as the company works with business partners and stakeholders "to address questions they have about the service".