PayPal’s Domestic Restrictions May Turn out to Be MaiCoin’s Gain in Taiwan

The well-known international payments processor, PayPal has been making a lot of changes to its way of operation since it separated from eBay. One of the recent changes made to its Taiwan operations prevent PayPal users in the region to either send or receive funds from other users in the region.

Since PayPal spun off eBay in July this year, the new company is cleaning up its books and redefining its operations across the globe. This exercise comes with an initial cost, which will definitely pay off in the later stages of its operations. The recent move by PayPal Taiwan to prevent Taiwanese users from using their local personal PayPal account to send and receive funds from other local users.

By doing so, PayPal is adhering to the regulations on digital payments put forth by the Taiwanese government. This new restriction on the platform will come into effect in the next ten days. These restrictions are currently applicable only for transactions happening within the geographical boundaries of Taiwan. All international transactions over PayPal will continue to be unaffected.

With peer-to-peer transactions out of question on PayPal, people in Taiwan and even Puerto Rico (as PayPal has issued similar restrictions

Read more ... source: LiveBitcoinNews