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Tag Archives: paypal alternative
Indian Online Stores that accept Paypal Payment Method
After the PayPal India issue came up yesterday, I have been hunting for online Indian webstores where I can spend my PayPal money. Another motive behind this hunt was to see if there are ways I can save my Currency conversion costs. And I am happy to let you all know that I was successful in finding some such stores.
List of Indian Webstores which allow PayPal as payment method
1. Inkfruit – This is a great webstore for buying designer tees. The concept is more on the lines of “By the people, For the people”. The designer community of this site is awesome and very active. New designs are released almost every week. I had also blogged about their monsoon sale a few days back. Also, PayPal payment on this site does not involve currency conversion rates.
2. Bookscaterer – I am a book lover and am always looking for sites which have good discounts and collection of books. This site though has a limited collection of books, allows paypal payments without currency conversion rates. Most of the books are discounted as well so you save even more. There delivery is also good but customer care is not very professional.
3. Infibeam – This is like an online mall with a wide stretch of categories and things to buy. They accept paypal payments but I have generally found that the stuff listed here are bit overpriced. Still works for an option.
4. Coimbatore Mall – This mall is like infibeam but lacks great UI. They too have a wide range of products and accept paypal. Prices seemed a little high but I guess its still bearable. Do check out the store and give your views.
5. Webmall India – Another mall, good UI and lot of options. Pricing seems adequate and they accept Paypal payments, currency is converted according to the current rate so you save again.
6. Indiawithlove – This store has a wide variety of items more suitable if you are looking at sending a gift to your loved ones. Price-wise its very expensive but hello when has online gifting solutions been easy on pockets. They have direct prices in dollars so no currency conversion involved.
7. AllIndiaFlowers – Another gift store if you are interested in sending flowers/chocs/soft toys. Never experienced their service but according to another blogger ADITYA, it is NOT value for money. Still one must be aware of all the options. 
8. Lynx-India – A Chandigarh based computer store for all your IT needs. I found the pricing competitive and they also have an ebay store. So you can buy your computer peripherals from here.
9. WayInfotech – Though people go for global webhosts these days, if you are looking for an Indian webhost who is reliable and very cost-effective then check-out this site. I have been using them for 3yrs now for many of my clients and have not come across even a single issue these days. Their support is pretty good as well. Hosting costs as low as Rs.875 which includes free domain. They have recently started accepting Paypal payments.
Hope, all of you find this list helpful and also the Paypal withdrawal issue is resolved soon. I will add more stores to the list as I find them, if you are aware of any do let me know.
Image Credit – Doteasy
Paypal Alternative and How to withdraw money to Indian banks
First of all, HAPPY HOLI to all. Its the festival of colors and I wish everyone of you a colorful life. For those unaware, Holi is an Indian festival when people apply colors on each other, forget all their worries/inhibitions and enjoy life in unison.
In my last post, I had told you about how the Paypal issue is partially resolved at this point of time. According to paypal officials, bank withdrawals will start from 3rd March’10. But until the problem is resolved completely one does need to find alternate ways. Also, this issue should make us realize that we should be prepared in future. So in this post I will be telling you about Paypal alternatives and also how to withdraw money from Paypal in the current scenario…
Paypal Alternatives
1. Moneybookers.com – Like Paypal, this is another service which serves for 30+ countries, India included. With low transaction rates and easy money transfer options, this is one of the best money transfer methods and a good alternative to Paypal. It allows direct withdrawals via local banks, credit card, cheque, etc.
Moneybookers also provides escrow services and lets you send money to non-moneybooker members. Like paypal, it operates on e-mail ids. Easy to use and quick signup. Join today.
2. Payoneer - This service is for those who would like to have the ease of drawing money at any point of time instantly or even to enable themselves to make purchases. Payoneer provides its account holders with cards on a monthly maintenance fee which are similar to any credit/debit cards. You can top-up the card and use it as you please. There are transaction rates involved in ATM withdrawals.
My suggestion would be to get this card and use it for emergencies. Though the maintenance fee is little high. Currently, Payoneer is issuing cards for free without any initial cost. Make the most of the offer.
How to withdraw money via Paypal with Xoom?
You can send funds to your bank account using Xoom from your own PayPal account in less than 2-3 business days (for smaller amounts, it’s as quick as less than 24 hours).
Here’s a detailed explanation on how this works:
- Open a free Xoom account, if you don’t have one. Please provide proper details as asked. Xoom verifies its users and needs to make sure of their identity.
- Complete email verification and use the Send Money option to send money.
- Enter the desired amount to be withdrawn. Select “Bank Deposit” Option. and specify “PayPal” on one of the next pages.
- Enter the Recipient bank details (Note: Sending money to YOUR own Bank account from your PayPal is perfectly legal)
- If it’s the first time you’re using Xoom — you may be prompted to enter your own Personal details (like Address, Date of Birth, etc. Make sure everything you enter correct information)
- “Payment Information”: Select “Pay with your Debit Card, Credit Card or PayPal account” Option. “Payment Method” as PayPal
- You’ll be redirected to PayPal where you can fill authorize the payment.
You can track the transaction any time by logging into Xoom via the “My Accounts” page. Xoom transfer money fast though there is a limit to how much you can transfer.
Paypal India Issue resolved but partially
The last month has been pretty rough for thousands of Indian PayPal account holders especially merchants and businesses which do daily transactions. I myself have not been able to make any paypal withdrawals for more than a month, so I understand the frustration. I used an Xoom to withdraw money to Indian banks.
If you have not been aware till now, you can have a quick read on the issues via this blog about the paypal issues for Indians and an open letter from Farhad Irani. In a nutshell, Indian PayPal account holders have not been able to withdraw money to their local banks since the past month following some issues Reserve bank of India(RBI) and also they have stopped allowing personal gift transfers.
Just today I received an e-mail from Paypal stating that they have resolved the issue and still in talks with RBI to put strict regulations in practice. There will be a new exporters code field added and this detail will be required to enable transactions. This makes it possible for business owners to start withdrawing money to their local bank accounts but individual vendors are still at distress. Individual payments are still suspended.
Paypal has not yet published the complete information about the process that will be followed henceforth but the same would be conveyed by 1st March. Following is the email received from Paypal:
Dear Paypal User,
We have been diligently working with the RBI and our business partners to resume Indian bank withdrawals for the thousands of Indian businesses who depend on PayPal to sell their goods or services in the global marketplace. Today, we are happy to announce that the RBI has allowed us to continue local bank withdrawals for settlements for exports of goods and services.
We are currently making changes to comply with Indian regulations for settlements for exports of goods and services, and we anticipate that, as of Wednesday, March 3rd, customers will be able to use our bank withdrawal service. As part of the changes, you will be required to fill out a new field entitled ‘Export Code’ when you request a withdrawal. This information is required under the current laws of India in order to identify the nature of cross-border merchant transactions.
On Monday, March 1st, we will be back in touch with specific instructions on how you can move your money into your bank account.
Moving forward, the RBI has told us that PayPal needs specific approvals to allow personal remittances to India, which we currently do not have. Until we get these approvals, personal payments into India will remain suspended.
However, if you are an exporter, you will continue to be able to use the PayPal service for payments of goods and services. In fact, with the changes we are making to our system, PayPal is now set to be a more powerful engine for exporters in India. With purpose codes for export transactions and FIRCs (Foreign Inward Remittance Certificates), you should now be able to get the export related benefits you seek.
Sincerely,
PayPal
Though the above mail did bring a wave of relief to the business entities, the individuals are still left at vain. This issue needs to be resolved fast as the major part of the account holders are individual entities.
You can also withdraw money from PayPal to Indian Bank via Xoom. Get money in 2-3 days.
For more info, check out: ThePaypalBlog
Added to that: I would like you all to know that while the paypal issue was at its peek, I was trying out other services available and after quite an analysis and trials, I found MoneyBookers proving to be quite a worthy service and is a good Paypal alternative. If you haven’t tried it yet, do try. Though the paypal is going to be resolved, its always better to have more options. Signup for MoneyBookers…
Update: Find out how to withdraw money from Paypal with the help purpose code here.