After falling foul of regulators in India earlier this year, PayPal has been forced to suspend personal payments in Japan ahead of new rules set to come into play on 1 April.
In a blog, Kosuke Seto from PayPal's Japan team says that starting tomorrow, customers in Japan "will be unable to send personal payments to individuals using the PayPal "send money" service until further notice". Continues Seto: "The changes to our personal payment services are necessary in order for us to comply with new Japanese regulations that go into effect April 1st." The new law requires firms to apply for a license to offer personal money transfer services.Continue Reading at Finextra
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