This is sure to cause a backlash among Indian online merchants. Due to restrictions from the Reserve Bank of India, PayPal has amended its user agreement for Indian merchants, imposing a number of restrictions on merchants using PayPal as an online payments mechanism. Now Indian merchants will not be able to accept payments via PayPal that are above $500 per transaction. As stated in PayPal's blog post announcing the change, "For purchases or payments above this transaction value, you will have to use an alternative payment method." The fact that Indian merchants won't be able to receive payments above $500 per transaction is a big blow to entrepreneurs in the country. As one anonymous developer tells us, "we're fucked."
IT professional INVENTEC Enterprises IT KDDI IT professional KLATENCOR Related News KONINKLIJKE KPN
Source: http://feedproxy.google.com/~r/Techcrunch/~3/kInaKL4nIaQ/
No comments:
Post a Comment