Thread: Bad news for paypal account holder in India

https://www.paypal-apac.com/india/

1. You can't accept more than 500$ per transaction
2. There would be no paypal balance (towards payment).Payment received needs to go to your bank account within 7 days.
3.You can't pay from your paypal balance.

Do domainers based in India know any other alternative?Your thoughts?

Reserve Bank Of India Restricts PayPal Payments To Merchants To Under $500

That's some terrible news!

I noticed paypal block payment of indian customer who wanted to pay to indian company through there credit card.

Does anyone else noticed it ?

this is there from last few months... Being Indian you cant pay to Indian company using the Paypal.

Government is not ready for paypal model kind of ecommerce. Serious issue are ensuring the collection of proper tax when payment is done through paypal and also internal security threats...

This is not good for the guys in domaining, also I dont think they will give more flexibility in near time when the whole nation is debating about BLACK money... Domainers has to find out alternatives or using escrow services or sedo ..etc while receiving money and while paying you have to pay from your bank account ....

cheers

start demanding to use alertpay , moneybookers thats the best

See this link , this narrates different story (And we are convinced) :

Why Is PayPal Screwing Indians? An ex-RBI Employee Tells Me The Facts


PS: Credit to Samit Madan (Namepros) for this link on his Facebook post....

really bad news for Indian traders who pays via paypal

Any update?

no updates from paypal

Policies are going to come in effect from 1st March, 2011 and website holders already made alternate arrangements.