After offering cross-border payments in India for a decade, global digital payments major PayPal announced the launch of its India operations.
PayPal Holdings, Inc., said, “Merchants offering PayPal will be able to process both local and global payments through PayPal, getting access to PayPal’s 218 million customers around the world and in India through a single integration.”
The Government of India’s recent push towards digital payments led PayPal to partner with government and state-owned banks on a number of initiatives, such as digital financial literacy programs and eTourist Visa (eTV), reports the Economic Times.
“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,” Anupam Pahuja, Country Manager and Managing Director, PayPal India said.
“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,” Rohan Mahadevan, CEO PayPal Private Limited and senior vice president, General Manager, APAC said.
