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PayPal to stop personal payments in Singapore

Tuesday 19 February 2013 10:27 CET | News

PayPal has revealed plans to stop allowing personal payments such as cash gifts or living allowances in Singapore due to regulatory instructions, online media outlet TechCrunch unveils.

People will still be able to make commercial payments for goods and services with their accounts, such as at online merchants, or receive funds from PayPal users outside of Singapore.

According to reports, PayPal Japan’s personal account holders stopped being able to receive or send money to individuals in 2010 and now have to pay a business fee for transactions. The same year, users in Taiwan and Brazil reported that they stopped being able to send personal payments.
 


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Keywords: PayPal, online payments, personal payments, Singapore, online merchants
Categories: Payments & Commerce
Companies:
Countries: World
This article is part of category

Payments & Commerce