Tuesday, February 1, 2011

PayPal restrictions to hit parent eBay's India business hard

The payment restrictions introduced by electronic wallet and online payment gateway PayPal are likely to have a negative fallout on the budding India business of its parent company eBay, an online marketplace.

The gateway on Friday adopted the payment restrictions mandated by the Reserve Bank of India. eBay, which claims to have an online community of 2.5 million spread across 2,471 locations in India, has since informed users of the restrictions as part of its payment

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