Saturday, February 6, 2010

Is PayPal recklessly determined to ravage Indian economy?



What may happen if your bank or depository financial institution stops payments out of the blue? There is hardly any doubt that hell will fall upon you and leave you fuming and pertinent organizations, regardless of right or left, will leave no stone unturned to transform the gross anger into a mass struggle. Well, the situation with Indian users of PayPal is just the same but there has been no mass upsurge yet. Reason? The entire situation is baffling as PayPal, notable online payment and money-transfer service that allows you to send money via email, phone, text message or Skype, has not issued any statement thus far in this regard. What can be done then? This question is not of only you but of thousands of users as well.

Is this the fallout of any major conspiracy to inflict a heavy blow on the vigorous and mounting Indian economy? We do not want to think in this way but such theories can’t be brushed aside too for the reason that India’s relatively safer position in the previous worldwide recession astounded the western big players substantially.

What are the traditional PayPal users doing then? They can’t do anything save for criminating the online payment and money-transfer service and this is haunting them most at the moment. A number of users whose transactions have been reversed are giving vent to their frustration on online forums and message boards. It has been found that funds requested through PayPal India are being canceled officially without more ado and users are totally clueless, without a shred of doubt.

Even if you are not a PayPal user, its standard response to own clientele appears to be nothing less than farcical and this is quite certain. The rejoinder states categorically, “Your payment of xxx has been sent back to the sender of the payment. We reversed this payment because we have stopped allowing personal payments to be sent to or from India.”

“If this was a payment for a purchase of goods or services, and not a personal payment, then you may contact the buyer and have him or her resend the payment as follows: (a) click the Send Money tab, (b) select “Goods,” and (c) provide a shipping address.

“If this payment was a personal payment such as a gift, then we have requested that the sender find another payment method until we restore personal payments to and from India. We are trying to resolve this issue as quickly as possible and we’re sorry for any inconvenience.”

What conclusion can be drawn from here? It seems that the issue is not going to be resolved so soon and even if this happens, it is a temporary arrangement. Perhaps worse is still to come.

What is the Indian government doing then? Though there has been no official government retort yet, perhaps, as usual it is keeping tabs on the development. Will the Indian government be able to do anything? How can you expect it? After all, you are an Indian and hence, are an orphan.

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