Global payments giants PayPal has launched full-fledged operations in India, which is fast blossoming into the world’s hottest payments market. This comes nearly a decade since PayPal started allowing Indian customers to make cross-border transactions. But now, it has setup an Indian subsidiary with local call centers, and multi-lingual support to run PayPal India. Customers can use PayPal to check out at small merchants. And merchants offering PayPal will be able to process both local and global payments thus gaining access to PayPal’s 218 million global customers through a single integration. Also Read - WhatsApp is soon to change the way your data is backed up: What it means?Also Read - WhatsApp introduces 'Papa Mere Papa' stickers to celebrate Father's Day: How to download, send?
Customers can download the PayPal app and manage their accounts through it. PayPal would be offering features including One Touch, Buyer and Seller Protection, Refunded Return and a 180-days dispute resolution window in India. “We will be targeting the Global Indian and have partnered with merchants catering to this segment giving them 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,” Anupam Pahuja, Country Manager and Managing Director, PayPal India said in a statement. ALSO READ: PayPal seeks license for mobile wallet in India: Report Also Read - Father’s Day 2021: Here's Best WhatsApp Happy Father’s Day stickers, wishes, GIFs, messages, quotes and more
Along with vernacular language customer service centers, PayPal has also set up an on-ground sales team to drive customer engagement and education. The Indian government s recent push for digital payments has also encouraged PayPal to partner with state-owned banks on various initiatives including a digital financial literacy program and eTourist Visa (eTV). Prior reports had suggested that PayPal had even reached out to some of the country’s top banks for a payment gateway association. It was also in the running to acquire FreeCharge, a payments app owned by Snapdeal, that was eventually bought out by Axis Bank in India’s biggest fin-tech deal so far. ALSO READ: WhatsApp Pay in final testing stage, likely to launch in December: Report
PayPal, which has operations in over 200 countries, will be pitted against tech titans like Google, WhatsApp, Amazon, Apple and Samsung in India. All these companies have made serious bets on the Indian payments space in the last few months. While Google created a made-for-India payments app, Tez, which runs on the government-backed platform UPI, WhatsApp is on the verge of rolling out a similar service. Amazon, which is well-established in the country now, has been ramping up its payments arm that is rewarding customers who transact via Amazon Pay. Apple Pay and Samsung Pay too will roll out widely in the time come. And then there’s Paytm. India’s largest payments service is so big that it is eyeing a US entry now.