For more than one week, PayPal has stopped all transactions “to and from India” which has put many small and medium companies in dire situation. In the official blog of PayPal, which is https://www.thepaypalblog.com, Mr. Anuj from the PayPal communications team has stated that “I’m writing to let you know that personal payments to and from India and transfers to local banks in India have been suspended while we work with our business partners and other stakeholders to address questions they have about the service.
During this time, customers can still make commercial payments to India but merchants cannot withdraw funds in Rupees to local Indian banks. We’re trying to resolve the situation as quickly as possible and we’re really sorry for the inconvenience that this may cause our customers in India and around the world. I’ll update the blog as soon as we have more information to share.”
Before embarking on the above decision, if PayPal had intimated their customers and given prior notice, they could have avoided putting so many PayPal customers in a tight situation. We have to come to know that hundreds of IT companies have been hit hard because of this event, and their stress is in fact tremendous and it is hard to digest of such a development.
We believe this is the first time that such an issue has risen out from PayPal, and they take necessary action to arrest this issue and thwart the negative situation prevailing here.
In future, PayPal should avoid such event and duly notify their customers about the developments.