Official Statement From Paypal Regarding Reversal’s

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In one of my previous post, i wrote the problem faced by Paypal users in India and lack of any information regarding the same on Paypal’s site. If you haven’t read that post, read it here

Paypal Reversing Money Sent To/From India Using ‘Personal/Services’ Option

Well paypal has now put on a post on their blog addressing the issue. Here is what the blog posts says

….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…..

Although the post does not say anything new. Neither does it mention the root cause of this entire problem. But on the positive side it is good to know that they are aware of the situation and difficulties faced by its Indian users. And are taking steps (hopefully) to resolve this problem.

You can read the entire blog entry Here.

Also, i have contacted paypal asking some question regarding reversal and withdrawal issues. So, stay tuned for paypal’s reply…….

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