PayPal likely to offer domestic payment services in India

Friday 3 November 2017 00:56 CET | News

PayPal will likely offer domestic payment services in India acting as a payment aggregator and working with banks to offer digital payment services to its customers.

PayPal reportedly has tied up with a dozen merchants to start off operations in India, wherein during the online checkout process customers will be shown the PayPal payment option. PayPal, with its set of expertise, could also drive digital payments at merchant locations, which are still predominantly card or cash.

For now, PayPal is operational in India only for cross-border payments for small merchants, entrepreneurs and freelancers selling goods and services abroad.

In August 2016, it announced the launch of – a new peer to peer payment feature which allows users to receive payment via the click of a link in a fast, convenient and personalised way.

Should PayPal offer its whole range of payments services from North America to India, will directly compete with digital payments providers in India on a market projected to reach USD 500 billion by 2020, contributing 15% to India’s GDP.

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Keywords: PayPal, online payments, payment services, India, aggregator, banks, digital payment
Categories: Payments & Commerce | Online Payments
Countries: World
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Payments & Commerce

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