PayPal faces new restrictions in India

29.01.2011

PayPal does not have authorization in India to provide cross-border money transfers, a spokeswoman for the RBI said at the time. PayPal needs authorization to operate a cross-border money transfer service, under the country's Payment and Settlement Systems Act, 2007, and it does not have it, she added.

PayPal is still not included in a list of payment system operators authorized under the Act, that was released by RBI on Jan. 18.

The IDG News Service