February 10, 2012

Paypal is such a nightmare for Indian businesses

Paypal I used to love it. It was such a convenient way to accept payments from my international customers. They could pay me without disclosing their credit card details, they were comfortable with it & I could auto withdraw funds to my bank account in India, without any hassle.

That was a long time ago.

Now, the scenario is completely different. Now, Paypal tells me my PAN No. is invalid! The same PAN No. which can be verified on the Income Tax Department website, the same PAN that I have used for over 4 years to pay my taxes & as an photo ID for numerous train journeys & many other purposes, Paypal refuses to accept it.
That is sad, because Customers still ask me if they can pay via Paypal, but now I cannot accept their payments, because of no fault of mine or theirs, but a fault of Paypal in their PAN verification.

Moreover the issue is not simply just with me but numerous businesses in the country. If you google Paypal says Invalid Pan, you see a lot of search results.

One big reason for this could be, sole proprietorship businesses in India, no sole proprietorship businesses in India have a separate PAN, they work under the PAN of their proprietor but they may have a separate name (eg. my company name is Jewelove but my name is Sambhav Karnawat) & it might be so, that Paypal is trying to verify the name of the company with the name of the PAN Card. Whatever the issue, Paypal should try to rectify it so that it can earn from Indian businesses again & so that Indian e-commerce business can receive payments from their international customers peacefully once again.

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