Reserve Bank of India halts some PayPal services

02/10/2010 | NYTimes.com

The Reserve Bank of India said that despite the ubiquity of PayPal in the country, the online payment service is not properly registered. "Providers of cross-border money transfer service need prior authorization from the Reserve Bank under the Payment and Settlement Systems Act," according Alpana Killawalla, a spokeswoman for the Reserve Bank of India. "PayPal does not have our authorization."

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