How do I receive PayPal payments?
To find the best way you can receive payments through PayPal, check out all the payment solutions we offer in India.
For your account security and compliance with India’s financial regulations, you’ll need to confirm your email address and your identity before you can receive PayPal payments and withdraw money from your PayPal account.
Here are the actions you need to take:
Find out the documents you should provide according to your business needs, and then click Complete your KYC to begin the identity confirmation. Our comprehensive step-by-step guides can guide you through this process.
- To receive only international payments, you just need to:
- Verify your PAN (Permanent Account Number)
- Add your Indian bank account
- Select a Purpose Code
After we’ve received the information and confirmed your identity, you’ll be able to receive PayPal payments and withdraw money to your bank account. You can also click Notifications (the bell icon) on your Summary page anytime to track your progress.
Note: What's a purpose code?
In accordance with Indian regulations, you’re required to add a reason for your payments (also known as a "purpose code"). This helps the regulators to understand the exact nature of your cross-border transactions. This purpose code must be in place before you can withdraw money from your PayPal account to your local Indian bank account. You only need to add the purpose code once, and it’ll be used as the default reason for all your payments.
For all Business accounts, Purpose code is collected during the account creation. You can update the purpose code later as well. Please click here to update the Purpose code.