Payments company PayPal said that it has digitised the FIRC (Foreign Inward Remittance Certificate) application process for Indian sellers and freelancers by enabling the payment of the FIRC fee via NEFT as opposed to the previous process of a demand draft. The company said, with the new process, its sellers receiving payments from across the globe can apply for an FIRC online by filling a form on its website, eliminating the need to go through the paperwork needed for a demand draft. According to Paypal, earlier, the process required Indian sellers and freelancers to visit their beneficiary bank branch to request an FIRC, get a demand draft for the FIRC fee and then apply for an FIRC to Citibank. Now, sellers can simply fill an application form on the PayPal website and pay the fee by NEFT. PayPal will directly…
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