PayPal has confirmed that its recent service suspension involving local bank transfers and personal payments to and from India was the result of the country's revised licensing rules.
In a blog post on Tuesday, Anuj Nayar, PayPal director of global communications, explained that the PayPal service suspension in India was a response to enquiries posed by local regulators on whether personal payments constitute remittance into India.
According to Nayar, who also posted a comment on ZDNet Asia's report on the issue, personal payments to and from India will be suspended for at least a few months until the company resolves questions from the regulators. Meanwhile, personal payment senders will need to find another payment method, he added.
For more on this story, see PayPal explains Indian service suspension on ZDNet Asia.