PayPal Halted The Payment To And From India
The last few days of the February month has been a nightmare for many Indian people as there is a halt in the Payment to and from India by PayPal. PayPal is one of the best online Payment System. Millions of people all over the world use PayPal as their online payment solution. It can be said that PayPal is the king in the online payment gateway. Due to the sudden disruption by the PayPal there was a chaos in the online business for many online doers’ people especially Indians.
There was a lot of PayPal payment reversal which caused a headache for many online business workers, the payment they got from their clients got reverted back to the client making their PayPal account negative. Lots of people felt like working for nothing because as soon as they get the amount, it gets emptied again. Many people decided not to work online for a time period till this PayPal reversal problem got solved.
The main reason of the PayPal reversal was due to the personal payment people use to make. PayPal had some problem with the Indian regulator which made them to disable the personal payment to and from India. Personal payment in PayPal is used to make payment where there is no need to pay any fees. Since there was no involvement of fees, lots of people use to send money through personal payment.
Personal payment has been removed from the Indian account users. Although other countries user can use the personal payment but they can pay the India as the country India will not be in the list. Earlier all kind of transaction which was made through Goods and Service was also reversed back but from yesterday 10th February, the reversal problem got solved. There is no more payment reversal. We requested all our clients and Company to resend the money which got reverted back to them and luckily they did.
The amount which made a withdraw on Last week of January and in the first week of February didn’t reach any Indian bank, the money was later like 2 days back got credited back to the respective PayPal account. In that duration, PayPal credited only the amount that was generated after the currency exchange and the processing charge. So we lost few dollars in the currency exchange. We thought that was not a fair play by PayPal but PayPal repaid the entire Indian PayPal user that money we lost while currency exchanges. That’s really great thing PayPal did and they have gain the trust again.
Currently almost the reversal problems by PayPal to and from India are solved. The only problem that is still continuing is Withdrawal to the bank. PayPal said that Indians can withdraw money within few days till then we have waited.
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Posted by Carlos Sagastume on February 18, 2010. Filed under HUD Homes.
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