PayPal, the pioneer of Cross-Border Digital Payments, is all set to launch Domestic Payment Services in India this week around. Even after a struggle of more than 6 months, though PayPal couldn’t grab the license for prepaid payment instrument (PPI) in India, but it could use UPI structure via banks to establish digital payment infrastructure. It has already linked up with various online retailers and eCommerce players that will initiate PayPal Payment gateway on their websites and Indian Customers would soon be able to download PayPal app and make payments for online services within the country.
After the growing sentiments of the cashless society in India, various big players are coming in to digital payment business. Paytm already took a big leap post demonetisation phrase and thereafter we saw Google, Flipkart, Amazon and Samsung launched their digital payment wallet in India. PayPal has to compete with all these along with its limitations.
PayPal in on spree to expand its business. In United States of America, it offers peer-to-peer payments, remittance, retail offline transactions, merchants payments along with payment gateway business and PayPal Credits. But in India, PayPal can only facilitate merchant payments as of now.
A PayPal spokesperson informed, “PayPal has tied up with a dozen merchants to start off their operations in India, where during the online checkout process customers will be shown the PayPal payment option.” However he declined to comment on PayPal’s plan for expanding and growing its business in India.
Another person told that a player like PayPal would bring is buyer security and safety, which would be a huge positive for the Indian consumers.”
PayPal has also made its team stronger for India’s operations. Here’s list of top leadership team in India:
- Anupam Pahuja as PayPal Managing Director, appointed last year. He was Technology Head for Asia-Pacific previously in the company.
- Gunjan Shukla as PayPal Chief Financial Officer, appointed in July 2017. He was former Vice President of finance in Lending Club.
- Siddharth Dhamija as PayPal Head for Growth and Large Merchant acquisition in India. He was appointed in September 2017. He was Razorpay’s former Chief Growth Officer.
Indian customers, who travel in foreign countries, they would also be able to make payments outside India using PayPal.