India Says PayPal Not Authorised for Money Transfer

PayPal does not have authorisation in India to provide cross-border money transfers, a spokeswoman for the country’s central bank said on Thursday. PayPal needs authorization to operate a cross-border money transfer service, under the country’s Payment and Settlement Systems Act, Alpana Killawala, spokeswoman of the Reserve Bank of India (RBI), said Thursday. In a Tuesday blog post PayPal said that the suspension of personal payments to and from India would continue for at least a few months until it resolves questions from Indian regulators