PayPal – New Look and new features

Tech

PayPal, the e-commerce site which allows payments and money transfers to be made through the Internet has got a  new look and also has added some new features which might be of interest for users in India.

For one, PayPal has introduced new hosted payment buttons. Specific buttons receiving the refresh include: Buy Now, Pay Now, Add to Cart, Donate, Buy Gift Certificate and Subscribe.

If you are using any of the above buttons, you might have already noticed the change. The button does look a lot better compared to the old dull looking button. Now I hope more people will notice the “Donate” button on my weblog 😀

The official PayPal blog post has more details on this new feature.

PayPal had recently introduced a new feature via which you could withdraw the money in your PayPal account to your Visa Card (credit or debit). However at that time I was not able to add my Indian visa debit card and only my Visa Credit card was eligible to receive payment via the above option.

Now PayPal has added a feature (probably of more interest for users in India) via which you can withdraw funds directly to your bank account in India.

Transfers to the following banks in India can be done via PayPal.

For adding the account, you should first know the IFSC (Indian Financial System Code); the code is unique for the bank branch and is not specific for your account.

The Indian Financial System Code (IFSC) is an alpha-numeric code designed to uniquely identify bank branches in India. This is an 11 -digit code with the first four characters representing the bank code, the next character is a control character, and the last 6 characters identify the branch.
The Reserve Bank of India publishes the IFSC and MICR codes, but only IFSC codes should be used. Please contact your bank in India for this code.

Withdrawing to your bank account is much faster than ordering a cheque and I hope even Google Adsense can come up with a feature like this 🙂

9 comments… add one

  • TheAnand Nov 3, 2007

    This is the exact same system as Xoom whom I use till date. But xoom had free transfer only when you have 700 or 1k dollars to move…but paypal seems to have made it 7k rupees for free transfer to bank….nirmaltv.com has more info i believe. Also this is available only in India after the US….now, the moment of pride 😀

  • TheAnand Nov 3, 2007

    Well, the freeze after pressing submit comment is still there 🙁

  • Maher Saleh Nov 9, 2007

    My country UAE was also added to paypal

  • Venu Nov 10, 2007

    Anand, thanks for pointing out xoom; had never heard of it. Will definitely check it out.

    Maher, yeah paypal seems to be supporting this feature in a lot of countries 🙂

  • Raj Nov 14, 2007

    Hey, belated happy birthday. Was visiting another blog and the blogger had posted their orkut homepage screenshot and I saw you in the upcoming birthdays. 🙂

  • venukb Nov 17, 2007

    wow that was one unique way of you finding my B’day :)) Thanks very much for the wishes Raj 🙂

  • web tools Nov 25, 2007

    I recently withdrew some dollars directly to my ICICI account. And they were credited on exactly the sixth day of the withdrawl request.
    Nice feature.

  • venukb Nov 30, 2007

    6 days! that is not that fast, 3 days would be ideal time to wait i believe. Nevertheless always better than a cheque 🙂

  • ukarjodkar Jan 27, 2008

    I would like to know PayPal Branches in INDIA

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