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It is good to see online payments firm PayPal keeping its finger on the regulatory pulse of leading economies. The company has had to shut its Send Money service in Japan until further notice as it did not apply for a licence to operate personal payment services – a new law that comes into effect on 1 April.
This is not the first time the company has missed the legislative boat in Asia. In February, PayPal had to suspend personal payments for customers in India, again for failing to obtain authorisation under local laws.