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PayPal to restrict payments to India merchants

PayPal to restrict payments to India merchants

PayPal is making more changes to its online payment service in India, saying it will begin restricting the size of payments to merchants in India because of new rules from the Reserve Bank of India.
In a Friday post on PayPal's blog, the company said the rules will be effective March 1.
Under the new rules, India-based merchants using PayPal won't be able to receive payments from outside India for more than $500 per transaction.
Also, PayPal users in India won't be able to use their existing balance and future payments to buy any items. PayPal users in India who sell goods cross-border will have to transfer their PayPal funds to a bank account in India within a week of being notified that the buyer has gotten their purchase.


Updated : 2021-02-28 23:57 GMT+08:00