02 September 2015

PayPal suspends personal payments in Singapore

19 February 2013  |  5270 views  |  0 STOP

PayPal has been forced to suspend personal payments in Singapore by regulators, according to TechCrunch.

Citing an e-mail sent out to members, TechCrunch says that the transfer of money between personal accounts will not be allowed from 20 February.

Users will still be able to make commercial payments for goods and services and receive personal payments from people outside of Singapore.

PayPal was forced into a similar suspension by regulators in Japan back in 2010 and has also fallen foul of lawmakers in India in the past.

PayPal Stops Personal Payments In Singapore - TechCrunch

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

12 February, 2013
18 September, 2012
10 February, 2012
16 June, 2010
30 March, 2010
10 February, 2010
23 November, 2009

Related company news

 

Top topics

Most viewed Most shared
Third of Brits expect day-to-day mobile pa...
7886 views comments | 37 tweets | 15 linkedin
SunGard system glitch causes havoc for BNY...
7342 views comments | 14 tweets | 12 linkedin
Payments UK sets out vision for 'world cla...
6484 views comments | 17 tweets | 10 linkedin
HSBC glitch leaves thousands of customers...
5932 views comments | 13 tweets | 7 linkedin
Swedish mPOS firm iZettle raises EUR60m fo...
5787 views comments | 12 tweets | 8 linkedin

Featured job

£100,000 basic, £180,000 OTE + Benefits
London

Find your next job