PayPal, the global electronic payment enabler, has increased the receiving limits to $10,000 per transaction for its merchants in India. Previously, receiving limits of $3,000 per transaction were allowed for export related payments for goods and services.
Merchants can network with over 132 million active PayPal users spread across 193 markets to sell stuff and can accept payments in up to 25 countries. Credit and debit card payments can be accepted on the website, mobile or through ebay listings.
The electronics payment provider was planning to launch domestic services for Indian merchants in an year’s time. As of now Indian merchants can only receive payments from abroad using PayPal.
To receive export-related payments, merchants must confirm their email address, and add a Permanent Account Number (PAN), Purpose Code and local bank account to their PayPal Account.
Having said that, you still cannot purchase anything from your Paypal account.
Recommended Read: Top Alternatives Of Paypal For Indian Entrepreneurs.