Saturday, February 6, 2010

The PayPal Fiasco

It is a matter of great concern and at the same time quite frustrating that Paypal has stopped transactions taking place between India and the rest of the world. Today India has grown into a great IT hub and possesses a huge client base world-wide, who are mostly depending on Paypal for monetary transactions. This suddenly collapse of the Paypal has led to huge losses incurred by both the buyers and sellers together. The smooth process of delivering services and earning money has suddenly come to a halt which has given rise to a great deal of chaos and confusion in the Indian service providing market. This has not only made a dreadful impact on the lives of millions of employees, but also greatly damaged the client and service provider relationship. There could be several causes behind the sudden non-functioning of Paypal. Thousand of middle level companies mostly web development companies are facing great problems in their day-to-day monetary transactions. Hope Paypal is aware of the whole situation and will readily find a solution to smartly overcome this global crisis.

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