PayPal Upsurges Receiving Limited to $3000 for Indian Merchants

Must Read

Skeletons in the Closet? Google-Facebook Involved in Secret Online Advertising Deal

If you can’t beat ‘em, join ‘em. And when two titans happen to decide upon an alliance,...

Smartphone Resale Value: Depreciation Is Surprising Enough [REPORT]

It's a tad cliché and true that smartphones have permeated every sphere of our life. The ceaseless...

“Open Up Cambridge Analytica, It’s CBI At the Door!”

Among all the establishments ensnared in deplorable acts, Cambridge Analytica has steadily climbed the ladder of infamy....

PayPal has finally managed to break the ice with Reserve Bank of India on current ‘transaction limit’ chaos for Indian merchants – atleast till an extent.  Going further, Indian merchants – who use PayPal to receive money from overseas – can receive upto $3000 per transaction instead of earlier trivial figure of $500. However, there is nothing mentioned over the ‘auto-withdrawal’ feature which is forcing Indian merchants to use PayPal as traditional Payment Gateway rather than an online wallet.

To comply with the RBI guidelines, you must add a Permanent Account Number (PAN), Purpose Code and local bank account to your PayPal account in order to continue receiving export-related payments, says Mayur Patel – India Country Manager, PayPal.

Undoubtedly, the much appreciated move has been welcomed by many companies who primarily depend on overseas clients. After PayPal sketched the guideline of $500 receiving limit few months back, they were facing hard time to collect money from their overseas clients.

The situation became bad to worse when PayPal was guided to reverse all those payments which were over exceeding $500 limit by RBI. Already in grieved, Indian merchants started protecting themselves from PayPal only to head towards other alternatives like CCAvenue, EBs etc.


PayPal was quick enough to calculate upcoming business damage from Indian market and accelerated the efforts of negotiation with RBI. And, the results have started showing off today.

Indeed, it makes much sense for PayPal to safeguard Indian operations and business. Internet penetration in India is on absolute rise for last 2 years. India stands as second largest country in terms of social media users. Network infrastructure is showing significant improvement and internet users are showing great confidence in online banking, transactions and business. Consequently, the adoption rate and need of Online Payment gateway is growing. Being as Online Payment Leader, PayPal has holds valuable trust among merchants and would like to ride upon it for larger gain.

Apparently, this has made PayPal to stand by Indian Merchants and negotiate hard with RBI who was looking firm to its earlier stand of $500. No surprise if I will see few more relaxation in PayPal norms in next few weeks as it’s a Do-or-Die situation for PayPal in India.


Please enter your comment!
Please enter your name here

Latest News

The Secret Sauce To Emerge As A Winner In Online Games!

Online games are taking on the world. There were times when people used to play games in...

The World’s Most Notorious Malware Is Dead, Really?

The world’s most notorious malware has finally been gunned down and put to rest forever. On Tuesday, Europol aka...

10 Best Places To Work In 2021 Post Pandemic: Apple, Facebook, Tesla Fail To Make!

Everyone wants to work in a company that is full of positive vibes. However, the task to find such best places to...

Musk Attacks Bezos: Battle Over Space Real Estate Is Out In Open

The world’s two of the most prominent billionaires Elon Musk and Jeff Bezos have put on their boxing gloves and are duking...

The Increasing Sales of iPhone In India: Samsung And OnePlus Must Think Out Of The Box!

Despite all the challenges that were thrown at Apple, the Cupertino-based tech giant made the most out of the October-December period in...

India Is Ready To Bury TikTok, Forever!

Having faced months in the wilderness, it looks like TikTok and the Chinese app contingent are set to put out of their...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This