PayPal : Change in Withdrawal of Funds from PayPal Accounts for India Users

In accordance with regulatory instructions in India, Paypal to notifies its Uses about a change in the withdrawal functionality in India starting on August 1, 2010. At present you can request for either an electronic or cheque withdrawal of funds from your PayPal account if you are an India user.

From July 29, 2010 onwards, you will only be able to request for a cheque withdrawal of funds from your PayPal account.

To request for a cheque withdrawal:

  1. Log into your PayPal account, click on ‘Withdraw’.
  2. Click on the ‘Request a cheque from PayPal’ link.
  3. Enter the withdrawal amount and select your mailing address, then click ‘Continue’.
  4. Click ‘Submit’ to confirm your request.

In order to help with this change and until further notice, Paypal will refund the $5 USD cheque withdrawal fee to you for cheque withdrawals made on July 29, 2010 onwards.

For any questions, please log into your PayPal account and click ‘Contact Us’ at the bottom of the page.

PayPal Mobile Express Checkout Makes it Easier for Consumers to Shop from their Phones

Bill Zielke here, senior director on the merchant services team. For years, retailers have been talking about the importance of a multichannel strategy. But there’s never been a better time to get this up and running than today – because consumers are shopping not only offline and online but now through their phones. Mobile payments are poised to reach $200 billion by 2012, according to Juniper Research. And with more than 172 million smartphone users around the world, the mobile opportunity is hard to ignore.

PayPal is already the leader in mobile payments. We have been offering mobile commerce since 2005 and our mobile transactions are growing at a dramatic rate – increasing nearly six-fold, from $25 million in 2008 to $141 million in 2009. We expect to close out 2010 with more than half a billion dollars in mobile payment volume and more than five million members regularly using PayPal from their mobile devices.

We’ve had some great discussions with our merchants about mobile commerce and many of them have told us that while mobile is top of mind, getting into the game has proven difficult. That’s why we’re thrilled to unveil Mobile Express Checkout. A mobile version of PayPal’s Express Checkout service, Mobile Express Checkout allows merchants to offer the same fast and safe PayPal experience to their on-the-go customers.

We are in the early stages with Mobile Express Checkout, and it’s being initially rolled out on the iPhone and Android 2.0 (and higher) devices by a few innovative retailers, including Nike and, over the next few weeks. Jeff Wisot, vice president of marketing at shared a few words about Mobile Express Checkout recently saying, “We’re seeing a huge opportunity in mobile commerce right now. PayPal’s Mobile Express Checkout will allow us to enhance the convenient shopping experience for on-the-go customers.”

Mobile Express Checkout will be available for the rest of our merchants later this summer. Here are just a few of the features it will include:

  • One-stop payment service that allows merchants to sell to millions of mobile shoppers
  • Quick deployment and integration to get merchants in the mobile game fast
  • A seamless customer experience which is especially important with smaller screens and keyboards – no cumbersome data entry, just a few clicks and customers are done
  • Strong fraud detection


PayPal Wants To Go From 1000 To 2000 Employees In Asia – 2010

PayPal has seen the future, and apparently it lies out East. The eBay company has just announced plans to double its presence in the Asian-Pacific region by the end of 2010, and made a couple of other, separate announcements to underscore its focus on Asia.

At PayPal’s new international headquarters in Suntec City, Singapore’s technology hub in the middle of the nation’s central business district, the company said that it plans to double the number of employees in Asia Pacific from 1,000 currently to more than 2,000 by the end of the year.

The company plans to add more than 100 new jobs at its international headquarters in Singapore alone, as it represents all of the company’s business outside of the United States.

New jobs will be located at all seven offices in the region including Australia, China, Hong Kong, India, Japan, Singapore and Taiwan. For its Singapore business headquarters and development center, PayPal will be recruiting Singapore-based professionals with expertise in technology, product development, infrastructure design, risk and engineering.

PayPal says it has processed more than $6 billion of total payment volume (at spot rate) in Asia Pacific in 2009, an increase of 38 percent from 2008. Since its establishment in the region in 2006, the company has struck dozens of partnerships with Asian companies including this morning’s announcements today with DBS, Singapore’s largest bank, and China UnionPay, China’s bank card association (more about the latter deal over at BusinessWeek).

As part of PayPal’s plans to help grow the e-commerce ecosystem across Asia Pacific, the company also announced that the PayPal mobile payment software development kit (SDK) will be made available to developers in the region. That way, developers can add a checkout button to accept mobile payments without the need to collect financial information from customers with just a few lines of code.

The mobile SDK, which will initially support iPhone app development, will be available in the second quarter of 2010 to developers in the region.

by Robin Wauters

PayPal has launched an upgraded iPhone application

PayPal has just launched an upgraded iPhone application that adds new features and includes a facelift that’s meant to help instill a greater sense of security. And it also brings with it big news for Bump Technologies, the startup that lets you exchange information simply by tapping smartphones together: Bump is now prominently featured in the PayPal iPhone application as a quick way to initiate transactions.  You can download the free app here.


PayPal has offered a free application for the iPhone ever since the App Store launched in mid-2008, and it has gradually been improving over time. Today’s release brings a handful of significant new features. First, it now allows you to send a money request to your contacts (it’s essentially a bill). Second, you can now withdraw money out of your PayPal account and deposit it into your bank account. And there’s the Bump integration, which allows you to exchange money simply by tapping two iPhones together and entering the amount of the transaction — finally, an easy way to collect money from those friends who always seem to be out of cash.

The PayPal app includes a few more minor new features. There’s now an integrated tip calculator and bill splitter, as well as a reminder function that alerts you when you need to send or withdraw money. And the application now integrates the ‘PayPal For Kids’ program, which allows kids and teenagers to access a PayPal sub-account that’s linked to their parent’s.

PayPal’s iPhone app is only one component of the company’s mobile strategy. Last spring it partnered with RIM for the launch of the BlackBerry App World store, and it has also integrated with eBay’s mobile application. iPhone developers can easily integrate PayPal functionality using a PayPal library. And aside from the iPhone app, it offers native PayPal applications for Android and RIM phones as well (the company plans to brings these apps up to speed with the new iPhone release over the next few months).

PayPal To Restore Bank Withdrawal Service In India


About three weeks ago, eBay’s electronic payments daughter PayPal suddenly started blocking personal payments going in or coming out of accounts from Indian customers, resulting in a flood of online complaints from the latter that ranged from accusations of racism to sheer amateurism.
Last week, rumors that PayPal was actually forced into halting personal payments by Reserve Bank Of India (RBI) because they did not comply with all relevant regulatory requirements, were confirmed. Last night, PayPal posted a status update on its corporate blog, saying that they anticipate to resume part of its service, namely bank withdrawal abilities, as of Wednesday, March 3rd.
From the blog post:
We have been diligently working with the RBI and our business partners to resume Indian bank withdrawals for the thousands of Indian businesses who use PayPal to sell their goods or services in the global marketplace.
I’m pleased to tell you that the RBI has now allowed us to resume bank withdrawals for settlements for exports of goods and services. We are currently making changes to comply with Indian regulations for settlements for exports of goods and services, and we anticipate that as of Wednesday, March 3rd, we will be able to resume the bank withdrawal service.
As part of the changes, Indian customers will be required to fill out a new field dubbed ‘Export Code’ when they request a withdrawal (here’s how to get one). This information is apparently required under current Indian laws in order to identify the nature of cross-border merchant transactions. PayPal will share specific instructions on how users can move money into bank accounts on Monday, March 1st.
But Reserve Bank Of India has informed the eBay company that it requires specific approvals to allow personal inward remittances to India, which it currently does not have. In other words: PayPal is still forced by law to effectively suspend personal payments going into the accounts of its Indian customers for the foreseeable future, unless they are exporters.
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