Indians as well as the rest of the world were shocked to know that well-known online payment service PayPal ceased payment transactions to and from India for more than a week.
Such news was posted on the official PayPal blog saying that personal payments to and from India as well as transfers to local banks in India were ceased.
Such situation negatively influenced on freelancers that are engaged in different businesses and fields that are reliant on PayPal that acts as a transaction gateway.
Moreover, PayPal temporarily arrested several India-based PayPal users by avoiding payment transactions to and from India. What is more such users are unable to transfer their funds to local Indian banks in order to withdraw their balance. Every user of the PayPal service got a standard email.
But it should mention that such situation is temporary. But still many users are clueless on whether their funds will be recovered or not.
eBay purchased the PayPal service in 2002. It may happen that the situation can repeat with PayPal and will undergo the same process as it was with Skype when eBay purchased it and gave 65 per cent stake to an investor group.
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