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payoneer still working india?

Discussion in 'BlackHat Lounge' started by $hekhar, Jan 3, 2012.

  1. $hekhar

    $hekhar Registered Member

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    Hi guys,
    just got signed with 2checkout.they provides payoneer cards.few days ago i heared that they stopped service in india?is here anyone india using payoneer?
     
  2. imserious

    imserious Senior Member

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    Payoneer can not provide card in india as RBI does not permit it.
     
    • Thanks Thanks x 1
  3. Nissim-Payoneer

    Nissim-Payoneer Registered Member

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    Occupation:
    Head of Community at Payoneer
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    Hey,

    As mentioned above, the Indian government and local banking authority has prohibited the issuance of Visa/MasterCard cards by non-Indian companies to Indian residents, which unfortunately includes Payoneer.

    We do offer a local bank transfer service to Indian residents who are a member of a partner program paying with Payoneer. This service will allow you to receive transfers from a local bank account, in your local currency. For more information contact our Customer Support department.

    Thanks ;)
     
  4. vjkumar

    vjkumar Registered Member

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    My fellow Indian Friends,

    The Indian government and local banking authority has prohibited the issuance of Visa/MasterCard cards by non-Indian companies to Indian residents, which unfortunately includes Payoneer.

    Therefore RBI has banned Payoneer from issuing any Visa/Master Card in INDIA. Therefore Payoneer is not the option for us in INDIA. And as per Indian Banking Law, this Ban cannot be lifted from Payoneer as issuing Visa/MasterCard cards to Indian Residents not under RBI and is strictly prohibited in INDIA.

    Its not just Payoneer is banned, but any VCC (virtual credit card) issued to Indian Residents is banned. Therefore caution to Indian Citizens, if for any purpose you use VCC and you show the transaction done through VCC though TAX filing, Indian Citizens using VCC are punishable under RBI law and I also came to know that, there would be an imprisonment or huge fine accordingly. It is covered under Money Laundery act of Indian Constitution, as Money Laundering in India is Illegal according to Indian Law where as its Legal In US and other countries.

    So be careful guys if you dont understand banking in India. It very complicated structure here in India.