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Paypal did it again; it seems to rapidly gain a reputation to whatever it feels like with an unresponsive customer care and really questionable business practices. All ‘personal payments( actually, all payments) into and out of every Indian paypal accounts has been stopped. Recent transactions have also been reversed. Can you image what kind of blow that would be for online business owners? I was tempted to write off my business and go find a job.However, I thought it would be Interesting to let you know what I have been thinking:
India is a pain in the a%$ to do business in: I always knew what a pain it has always been to start and operate a business in India. I was glad when e-commerce happened because suddenly, there wasn’t just India that I had to deal with and things seemed pretty straightforward. The recent Paypal fiasco now makes me think that I need to get out of this country and live somewhere else. Things just don’t work here.
U.S is still a land of opportunities: For the truly skilled, U.S provides a lot of opportunities. Forex trading, online gambling and other such things is almost impossible to deal with in India while it is so easy to get started, go up and running out there in the U.S. Also, think about the amazing opportunities in the form of affiliate marketing — there are innumerable products available in the U.S but not available for the non-U.S category of affiliates to market. For over 5 years now, I do know that the opportunities are now increasingly being made available for the non-U.S market, but still, U.S is the supreme land of opportunities.
What’s next?: It really hit me, this paypal thing. It tells me how vulnerable Internet businesses are and that I have no recourse to do much if things go really bad. I know I am being paranoid, but I have my reasons. I was left wondering: what’s next? If it really happens, what do I do? Should I leave my Internet based businesses for good? Should I relocate to another place? What can I do really? I know, it’s just that feeling, but then, what are my odds?
What do you think? If you are like me, it must have hit you too. What were you thinking?
{ 1 comment… read it below or add one }
Yes, its a big problem to do any online business in india. I got 200$ loss due to this paypal payment reversal. I dont know whom I need to ask. Actually I am a member of neobux and got 160$ payment. Now paypal reversed back, as per neobux terms and conditions they wont pay that back
dont know what to do. I wrote to paypal and they sent an acknowledgement mail mentioning that they will reply in 6hrs but even after 40 hrs no reply from them.