Paypal has just announced that they are suspending private payments in India for the moment. This is a very big deal since Paypal is probably the nr.1. way that Indian freelance personell get their job payments. This applies to all form of freelancing where India has a huge market share. Internet marketeers will also be affected since it will be diffcult to employ freelance services for content production and time-consuming jobs associated with internet market.
Paypals stop of payments in India should be temporary while the company finds ways to conform with new money laundering regulations in India. The story is on the net but first sighting was on the Paypal Blog.
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