ibusinesslines.com March 18, 2018

PayPal starts payment services in India

09 November 2017, 06:51 | Jodi Jackson

PayTm launches BHIM UPI payments

PayTm launches BHIM UPI payments

The option of payment through PayPal will now be available on various online stores such as bookmyshow, makemytrip, firstcry, yatra, Thomas Cook, fernsnpetals, bharat matrimony, etc. PayPal is bullish about the future of digital payments in India, which is one of the main reasons why the company has launched operations in India.

Until now, PayPal was offering cross-border payment options to merchants in India for close to a decade, reported Business Today.

We partnered with merchants, helping them leverage the global opportunity and realize the "Make in India" vision.

PayPal's features include One Touch, Refunded Returns, as well as the Buyer and Seller protection, which offers 180-days dispute resolution window, which will refund the money of the buyer in the event the online merchant is unable to send the product bought by the customer. These merchants can now process both local and global payments for PayPal's 218 customer accounts around the world through a single integration. "We hope to become a true digital economy".

"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". Anupam Pahuja, Managing Director for PayPal India stated, "We are still examining the prepaid instrument guidelines".

For India, PayPal has set up a customer service centre with multi-lingual support capabilities and an on-ground sales team to drive customer engagement.

With the launch of domestic services, PayPal has expanded its commitment to India. For us, the marathon has just begun. It is estimated that e-commerce giant Amazon is injecting almost $250 million in India to penetrate its digital payment service Amazon Pay India.

PayPal has two-decade track record of making payments secure online, this track record can work in the favour of PayPal. The government's recent push towards digital payments has also led the company to partner with the government and state-owned banks on number of initiatives, including digital financial literacy programme and eTourist Visa. Many customers in these cities, who were hitherto using only cash, also got used to card and digital payments.

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