This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

PayPal suspends personal payments in Singapore

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

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

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

/regulation & compliance /retail banking /payments

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	PayPal partners Singapore govt for m-commerce drive	16 June 2010
	New regs force PayPal to stop Japanese personal payments	30 March 2010
	PayPal falls foul of Indian regulators; payments suspension to last for months	10 February 2010
	PayPal found in breach of Australian anti-money laundering rules	23 November 2009

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