Washington, Jan 29 (Agencies): Following the guidelines issued by the Reserve Bank of India (RBI) on requirements for governing the processing of export related receipts facilitated by online payment gateways, online payment service PayPal on Friday announced changes in its payment to Indian transactions.

“Any balance in and all future payments into your PayPal account may not be used to buy goods or services and must be transferred to your bank account in India within seven days from the receipt of confirmation from the buyer in respect of the goods or services," said PayPal's blog, spokesman Dickson Seow in a posting.

Beginning March 1, 2011, Seow hoped that this 30-day advance notice period will enable its Indian customers to plan their future use of its services accordingly.

For global users, he said he regrets the inconvenience to be caused when they try to purchase from or send payment to an Indian merchant over USD 500 per transaction.

For purchases or payments above this transaction value, you will have to use an alternative payment method," he wrote.

In February last year, PayPal had announced to have suspended certain type of payment transaction in India.     
PayPal facilitates online payment and protects customers sensitive financial details with customizable security filters.