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Latest update on money transaction in India.

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Atul26
Contributor

Latest update on money transaction in India.

we would like to assure you that you can continue to use PayPal to send and receive international payments. However, effective 1 April 2021, PayPal will no longer offer domestic payment services in India. As a result of this, you will not be able to receive INR payments from other PayPal Payments Private Limited users.

Does that mean if we receive money from the USA or Europe? We will not be able to transfer into bank? Asking this because before sending it to the bank it needs to convert that cash into indian rupee.
Can anybody answer because if that's the case many people will stop using Paypal?

1 ACCEPTED SOLUTION

Accepted Solutions
sharpiemarker
Esteemed Advisor

Re: Latest update on money transaction in India.

@Atul26 

 

That should not change because you have to be able to withdrawal to bank, which has nothing to do with PayPal stopping PayPal India accounts sending payments to other PayPal India accounts in INR.


Kudos & Solved are greatly appreciated. 🙂

View solution in original post

2 REPLIES 2
sharpiemarker
Esteemed Advisor

Re: Latest update on money transaction in India.

@Atul26 

 

That should not change because you have to be able to withdrawal to bank, which has nothing to do with PayPal stopping PayPal India accounts sending payments to other PayPal India accounts in INR.


Kudos & Solved are greatly appreciated. 🙂

View solution in original post

Atul26
Contributor

Re: Latest update on money transaction in India.

Thanks for the reply.
Yes, I also think so. But wanted to confirm. 
India is a big market and if something like that happened. Paypal would lose many people on the platform.