Hello Readers,
paypal stopped personal payments from and to India.
I recently joined reliablefreelancer.com and got paid for one of my service in late january.
I was really happy that i got my first payment in my freelance career.But on 3rd feb i realized that my transaction was reversed.I was really shocked and contacted my client.He told he knows nothing about the situation.Later i contacted one of my old classmate who is working in paypal india.He told there are two possible reason for the payment to get reversed.
1)The client would have cancelled the payment
2)Thye client might have send it as personal payment.
Friends,in my case its the second one.He send it as personal payments and personal payments from or to india will get reversed after taking the paypal charge.
Why this is happening.
India is a big market for paypal.Most of the indian e-commerce providers use paypal and have a huge amount in their account.what will happen to them.
They can neither recieve payments not convert the money they have in indian rupees.
This is a serious matter.
Something should be done very soon.
Paypal is doing his best to solve the Issue.They are negotiating with the reserve bank of india and will soon solve this issue.
So people who have big amount in their paypal account,dont worry.
Paypal is a trustworthy company and will soon solve this issue.
More information on the update on paypal situation in india can seen on this post links.
Thanks again for visitimg my blog
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