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The Indian government has announced it will allow Indian businesses who use Paypal to sell their goods and services abroad to resume using the service, but the block on personal payments remains. The government refuses to lift it, accusing Paypal of being in violation of the country’s Payment and Settlement Systems Act, 2007. According to the act Paypal is not authorized to conduct cross border money transfers.
India insists it put the block in place because it believes that freelancers are using Paypal to avoid taxes and also that terrorists are using it to finance their activities. Paypal said it believes the block will be lifted in early March but that as part of the agreement all Indian transactions will be tracked by the government.
Read [PCWorld]
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