PayPal launches domestic payments; expands commitment to Indian market
New Delhi: Global technology platform PayPal Holdings Inc. on Wednesday announced the launch of its domestic operations in India, thus helping Indian consumers to use PayPal to shop online at some of India's most popular businesses.
Merchants offering PayPal will be able to process both local and global payments through PayPal, getting access to PayPal 's 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 SMEs and freelancers to leverage global opportunities.
"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," said CEO, PayPal and SVP, General Manager, APAC at PayPal, Rohan Mahadevan.
"India's digital payments journey is on a high growth trajectory and we are proud to be a part of it. We are excited about our prospects in a market that is highly inspirational and aspirational," added Mahadevan.
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.
It also offers a compelling set of services designed to help consumers shop online with confidence and merchants to differentiate themselves in today's increasingly digital world.
Features including one touch, buyer and seller protection, refunded return and a 180-days dispute resolution window are just some of the benefits available at launch, setting the stage for a differentiated payments experience.
"Developing economies are strongly driven by aspirations and no opportunity is bigger for us than India. We will be targeting the global Indian and have partnered with merchants catering to this segment giving them 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," said Country Manager and Managing Director, PayPal India, Anupam Pahuja.
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.
The Indian government's recent push towards digital payments has also led PayPal to partner with Government and state-owned banks on number of initiatives including digital financial literacy programme and eTourist Visa (eTV).
