PayPal launches Card
By Bala Shah

After a number of recent hiccups in India, PayPal had good news for its Indian users in Oct, 2011 when it announced a new $3000 per transaction limit which had been approved by the Reserve Bank of India.

Today, PayPal announced a PayPal Card which it will roll out over the next 2 years

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-With the new PayPal Card, customers will be able to swipe with one card to pay in-store from any of the financial instruments already saved in their PayPal wallet – whether that’s a bank account, credit card, or stored money.
-Or, they’ll be able to enter a mobile phone number and a four digit pin to pay.
-We can also work with retailers to offer NFC at the point of sale.
-And no matter how you pay, you can go back and change the payment terms, even after the purchase. These are huge steps—and we’re only just starting to scratch the surface.
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(Techgoss had published the following on Oct 15, 2011)

PayPal ups India limit
By Bala Shah

PayPal has announced some good news for its users in India.

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PayPal has been notified by the Reserve Bank of India (RBI) that our merchants in India can receive export-related payments for goods and services into their PayPal account up to USD 3000 per transaction (raised from USD 500 per transaction), effective immediately. This is great news as the vast majority of our merchants in India can continue to use PayPal for their online payment service with overseas customers.

To our merchants in India: We sincerely thank you for your understanding and patience in the past few months as we continue to implement the changes to remain compliant with the RBI guidelines. With these changes completed, you can confidently accept PayPal for your cross-border transactions with our global buyer base of over 100 million active accounts in 190 markets worldwide.
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