PayPal explains Indian service suspension
Country's new licensing rules are behind the suspension, the company says, adding that it may go on for at least a few months.
PayPal's recent service suspension in India, which involves local bank transfers and personal payments to and from the country, was the result of India's revised licensing rules, the company said Tuesday.
In a blog post, Anuj Nayar, director of global communications at PayPal, explained that the was a response to inquiries that local regulators posed, specifically, on whether personal payments constitute "remittances" into India.
According to Nayar, who also posted a comment on ZDNet Asia's report on the issue, personal payments to and from India will be suspended for at least a few months until the company resolves questions from regulators. In the meantime, personal payment senders will need to find another method of payment.
Read more of "PayPal explains Indian service suspension" at ZDNet Asia.