SME Times is powered by   
Search News
Just in:   • Modi at UNGA: 10 highlights of India's solutions at 'unparalleled' scale  • Import duty norm relaxed to improve containers availability  • Premium valuations biggest risk to market rally  • Big relief for service sector with SEIS release: FIEO  • Rs 300cr undisclosed income detected by I-T at financing syndicates 
Last updated: 27 Sep, 2014  

Internet banking generic THMB Online payment gateway transaction limit increased for exporters

   Top Stories
» Import duty norm relaxed to improve containers availability
» Big relief for service sector with SEIS release: FIEO
» Semiconductor shortage to further impact PV sales in Sep
» Centre to bring new cooperative policy soon: Amit Shah
» Make SEEPZ a world-class facility, says Piyush Goyal
SME Times News Bureau | 29 Jul, 2013

With the Reserve Bank of India (RBI) recently notifying increase in transaction value limit via online payment gateways for export related payments for goods and services to $10,000 from the existing $3000 in one go, Indian exporters will now be able reap higher benefits from online payment gateway service providers like PayPal.

"We are pleased to inform you that PayPal merchants in India can now receive up to USD10,000 per transaction for export-related payments for goods and services, effective immediately," PayPal India said today in an email communication sent to its users.

"We look forward to continuing to support your export business through our global online payment platform,"it added.

Hailing the RBI move, it further said that the increased limit will help its users to increase their global presence by selling to over 132 million active PayPal users in 193 markets around the world, accepting payments in up to 25 currencies.

RBI, in a notification dated June 11, had said, " . . . it has now been decided to increase the value per transaction from USD 3000 to USD 10,000 for export related remittances received through OPGSPS. The revised limit will come into force with immediate effect."

Other guidelines for online payment gateway service providers however remain the same. 

Of late, online payment gateways have emerged as a popular mode of facilitating e-commerce transactions. Some of these service providers have been increasingly facilitating cross-border transactions.

Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

Processing card payment. | Mon Aug 5 09:16:17 2013
India must engage more in payment processing in accordance with Global e-commerce.Paypal is only one company engage in payment processing.We used to get Mercury pay to process payment with integrated Point of Sales Systems.If any one can guide us, we will be able to provide same in India.

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 26 Sep, 2021
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» Rajasthan the most unemployed state after Haryana(1)
» Credit monitoring cell to monitor MSME loans(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter