PayPal halts payments to India
 

Online payments' service Paypal has halted personal payments to India following new government regulations that were designed to
crack down on money laundering.

Paypal Monday did not cite a specific reason for the suspension apart from concerns raised by PayPal's "business partners and stakeholders". The company noted that commercial payments to merchants in India would continue as normal.

The move is expected to have a serious impact on the thousands of Indian freelancers who are paid via Paypal for web design, writing and software development, PC World reported.

The move is reportedly related to the Indian government's crackdown in November 2009 on international banking transactions, when it instituted new reporting and verification requirements on all banks and financial institutions to prevent international money laundering.


More here

http://economictimes.indiatimes.com/...ow/5550148.cms

Bravo.

**round of applause**

Many DP scammers will be crying in their collective beers tonight.

lol very true

Sorry I have a thick scull. What does DP stand for in this instance? Thank you.

Its a mainstream forum basicaly

Asked.

Answered.

:pimp

Prevent money laundering. Good show.

Now you guys can hit up my sig and get yourself some decent content.

Good thing the indian sigwhores around get paid by epassporte

that wont stop it

One less thing yeah

I just paid someone from India. If you choose, "service" or "goods" It still works.

You just spoiled the fun.

What took them so long... Fucking Indian scammers :mad:

digital point

Where you can buy professionally written articles for $3 a piece :1orglaugh

Yeah, and people believing that India would be the third largest economic power in the world (which of course is not true, it's US, China and Japan, in that order), people who always want to get paid and I quote: "via Paypal, please make sure to mark it as a personal payment to avoid fees", you'll find written English with more spelling mistakes than any re-write robot would ever do, always spelling I with lower case i, that's how you spot them, and funny lies like they would be the worlds leading software nation. True, a lot of programming is done in India, but it's being developed and engineered in the West, EU and US, by well educated engineers, so the buttons are being pushed in India, but it's done according to blueprints, specifications and instructions from the computer programmers here.

There's a thread going on over there about this, all the Indians are like crazy mad about this and claims it will be the end of Paypal and so on and so forth. It's well over 2500 posts and going. It's quite entertaining to read, they are crazy mad over their 5-10 USD transactions being reversed by Paypal. It seems like the smaller the amount, the more mad they are. Then they are feeding each other misinformation and get mad at each other too for spreading information which is not helpful or untrue. The confusion is total. Few actually take suce a step as to call Paypal, but instead they are all trying to find out from each other.

It's all very entertaining, and I'd recommend a small Google search and you can enjoy some of the rage going on too.

I always used Xoom to pay my Filipino. They can just use that, no?

here's my Indian employee with the payment I had to send :(
http://storymojaafrica.files.wordpre...d-his-goat.jpg

way way way too much fraud in india. but come on, where else can a country of a billion make $5 a day and be online 24/7 to do the work. indian programmers are a dime a dozen and 20% do good work and the rest not. kudos to PP on this one