PayPal expands service in India
Global technology platform and digital payments leader PayPal Holdings, Inc. (Nasdaq: PYPL) has launched its domestic operations in India, allowing consumers to use its service to shop at popular businesses.
Merchants offering PayPal will be able to process both local and global payments through PayPal, getting access to the system’s more than 218 million customers around the world and in India through a single integration.
PayPal has been offering cross-border payments in India for close to a decade enabling Small and Medium Enterprises (SMEs) and freelancers to leverage the global opportunity.
PayPal brings to India two decades of digital payments experience from across 200 markets and a scalable two-sided platform and network which facilitates transactions in a secure manner.
PayPal offers a compelling set of services designed to help consumers shop online with confidence and merchants to differentiate themselves in today’s increasingly digital environment.
Features including One Touch, Buyer and Seller Protection and Refunded Return Shipping are just some of the benefits available at launch setting the stage for a differentiated payments experience.
Rohan Mahadevan, CEO PayPal Private Limited & SVP, General Manager, APAC at PayPal said: “This is a landmark day for us at PayPal as we launch our domestic service in a market which has all the ingredients to become a true digital economy.
“Over two decades we have focused on products, services and strategic partnerships with a singular focus of becoming a champion for our customers, helping millions of people around the world participate in the digital economy. We’re proud to be part of India’s payment journey, which is on a high growth rate trajectory. We are excited about our prospects in a market that is highly inspirational and aspirational,” he said.
Anupam Pahuja, Country Manager and Managing Director, PayPal India said: “Developing economies are strongly driven by aspirations and India presents opportunities in the digital space.
“We have partnered with merchants to enable a truly global seamless payments experience. India is transitioning away from our biggest competitor – cash – and our digital platform and technology has immense scope to enable this at scale. For us, the marathon has just begun.”
In order to service the local Indian customer, PayPal has set up a customer service centre in India with multi-lingual support capabilities and on-ground sales team to drive customer engagement and education.
A key differentiator for PayPal lies in its two-decade track record of helping to make online payments secure. Now with 218 million active accounts in more than 200 markets, PayPal connects a global network of buyers and sellers on its open payments platform. The company’s global reach and scale enable PayPal to have powerful insights into the online and mobile requirements of digital consumers and businesses around the globe and an advantage in leveraging data to keep its customers secure.
As digital payments become more mainstream in India as part of the Indian government’s push towards digital payments, PayPal is partnering with Government and state-owned banks on a number of initiatives including digital financial literacy programme and eTourist Visa (eTV). fii-news.com
