American based company PayPal stock price PYPL (NASDAQ) launch of its domestic operations in India. PayPal is worldwide online payments system that supports online money transfers.
We embarked on a journey to digitize India by enabling cross-border transactions. We partnered with merchants, helping them leverage the global opportunity and realize the “Make in India” vision.
Today, we are proud to announce that we are adding domestic payment capabilities to our portfolio in India. Indian consumers can now transact with PayPal with some of India’s marquee merchants including BookMyShow, MakeMyTrip, PVR and Yatra. These merchants can now process both local and global payments for PayPal’s 218 customer accounts around the world through a single integration.
PayPal brings to India two decades of digital payments experience from across 200 markets and an unmatched scalable two-sided platform & network, which will help facilitate transactions in a secure manner.
PayPal offers a compelling set of services designed to help consumers shop online with confidence and merchants differentiate themselves to today’s increasingly digital Features including One Touch, Buyer and Seller Protection and Return Shipping on Us are just some of the benefits available at launch setting the stage for a differentiated payments experience.
Developing economies are strongly driven by aspirations India presents an opportunity in the digital space. India is transitioning away from our biggest competitor – cash – and our digital platform and technology have immense scope to enable this at scale. For us, the marathon has just begun.