American digital payment company PayPal has launched domestic operation for India expanding it’s operations in India. The company is already providing cross-border payments almost for a decade and manages one third of country’s international payment transactions.
Now the customers will be able to pay with the help of PayPal at selected online stores. Merchants will also be able to process both local and global payments through the platform. The companies can provide services and accept payments from PayPal’s 218 million customers across the globe with single integration.
However, customers in India will not be able to store any money in their PayPal accounts as the company is yet to receive a prepaid payment instrument (PPI) licence from the RBI.
PayPal has also set up a customer centre with multi-lingual support and on ground sales team to drive customer engagement and provide trainings.
In India PayPal will compete with likes of Paytm, BHIM, PhonePe etc. Recently Google has also launched its digital payment app Tez for Indian customers.
PayPal has already signed up merchants such as BookMyShow, MakeMyTrip, Yatra and ChaiPoint and may others, but the larger e-commerce store like Flipkart, Amazon and Snapdeal are yet missing in the list.
PayPal India will offer buyer and seller protection with 180 days claim window, free return shipping and its globally famous ‘one-touch help’ that skips login enabling a frictionless checkout, Rohan Mahadevan, SVP PayPal APAC told.
Here are five Important things about PayPal’s India Operations
- Indian consumers can use PayPal to shop online at some selected Online stores in India.
- Indians living outside India can manage their domestic and cross-border transactions through a single account.
- The company also has plans to bring in its other global services like merchant credit and forex remittances.
- PayPal India will offer buyer and seller protection along with six months claim window and free return shipping.
- Merchants will be able to process both local and global payments with the help of PayPal.