PayPal Launches Domestic Payments and Expands Commitment to the Indian Market
November 08 2017 - 12:00PM
Business Wire
Offers a single account for their domestic and
cross border transactions
Global technology platform and digital payments leader PayPal
Holdings, Inc. (Nasdaq: PYPL) today announced the launch of its
domestic operations in India. At launch, Indian consumers can 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 more
than 218 million customers around the world and in India through a
single integration.
This press release features multimedia. View
the full release here:
http://www.businesswire.com/news/home/20171108006141/en/
Rohan Mahadevan (left), CEO PayPal
Private Limited & SVP, General Manager, APAC at PayPal and
Anupam Pahuja (right), Country Manager and Managing Director,
PayPal India at the launch of PayPal's domestic operations in
India. (Photo: Business Wire)
PayPal has been offering cross-border payments in India for
close to a decade enabling SMEs and freelancers to leverage the
global opportunity. 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. PayPal offers a compelling set of services designed
to help consumers shop online with confidence and merchants to
differentiate themselves in today’s increasingly digital
environment. Features including One Touch, Buyer and
Seller Protection and Refunded Return Shipping are just some of
the benefits available at launch setting the stage for a
differentiated payments experience.
PayPal India highlights
Focus on a secure payments eco-system with a scalable
two-sided platform Buyer and Seller Protection One
Touch helps skip login enabling a frictionless checkout
Customer support centre with multi-lingual support A 350
member on-ground strong sales team in 3 years
Rohan Mahadevan, CEO PayPal Private Limited & SVP,
General Manager, APAC at PayPal said: “Today is a landmark day
for us at PayPal as we launch our domestic service in a market
which has all the ingredients to become a true digital economy.
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. We’re proud to be part of
India’s payment journey, which is on a high growth rate trajectory.
We are excited about our prospects in a market that is highly
inspirational and aspirational.”
Anupam Pahuja, Country Manager and Managing Director, PayPal
India said: “Developing economies are strongly driven by
aspirations and India presents opportunities in the digital space.
We have partnered with merchants to enable 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.”
With the launch of domestic services, PayPal has expanded its
commitment to India. 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.
A key differentiator for PayPal lies in its two-decade track
record of helping to make online payments secure. Now with 218
million active accounts in more than 200 markets, PayPal connects a
global network of buyers and sellers on its open payments platform.
The company’s global reach and scale enable PayPal to have powerful
insights into the online and mobile requirements of digital
consumers and businesses around the globe and an advantage in
leveraging data to keep its customers secure.
As digital payments become more mainstream in India as part of
the Indian government’s push towards digital payments, PayPal is
partnering with Government and state-owned banks on a number of
initiatives including digital financial literacy programme and
eTourist Visa (eTV).
About PayPal
Fueled by a fundamental belief that having access to financial
services creates opportunity, PayPal (NASDAQ: PYPL) is committed to
democratizing financial services and empowering people and
businesses to join and thrive in the global economy. Our open
digital payments platform gives PayPal’s 218 million active account
holders the confidence to connect and transact in new and powerful
ways, whether they are online, on a mobile device, in an app, or in
person. Through a combination of technological innovation and
strategic partnerships, PayPal creates better ways to manage and
move money, and offers choice and flexibility when sending
payments, paying or getting paid. Available in more than 200
markets around the world, the PayPal platform, including Braintree,
Venmo and Xoom, enables consumers and merchants to receive money in
more than 100 currencies, withdraw funds in 56 currencies and hold
balances in their PayPal accounts in 25 currencies.
For more information on PayPal, visit
https://www.paypal.com/about
For PayPal financial information, visit
https://investor.paypal-corp.com
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171108006141/en/
Media contacts in India for PayPal:PayPalPooja
Sabharwal, +91 22
61451427psabharwal@paypal.comorEdelmanSiddharth Panicker,
+91 98 20857522siddharth.panicker@edelman.com
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