PayPal has finally made its way to Indian domestic transaction market making the digital transaction a lot more reliable and secure. Along with their entry, PayPal has lots of good news to Indian shoppers. They are bringing the One Touch, One Payment, and Faster Checkout to India. Let’s see how PayPal is going to make life easier for us.

Earlier there were certain restrictions on transacting and adding debit cards to PayPal accounts. Most Indian banks require 2 stage authentication for completing payments with Visa debit or credit cards, as per RBI guidelines. Now PayPal has incorporated the Verified by VISA OTP and Mastercard Secure Code/OTP into their One Touch for adding cards and payments. One thing you may need to make sure is that your debit/credit card should be activated for online and/or overseas transactions. This can be done easily online through net banking or via contacting directly with your card issuing bank.

How To Add Your Debit/Credit Card In PayPal
  1. Log in to your PayPal account and head towards “Profile and Settings”.
  2. There under the “Financial Information” you can add or update your Debit and credit cards.
  3. On the add card option, enter your Debit/Credit Card details. This includes your full name (as per the card), card type, card number and billing address.
  4. Click link card, you will then receive a bank authentication OTP (a one time charge of Rs 2 (refundable) will be shown).
  5. Once you successfully authenticate the transaction, your card will be ready for transacting in PayPal.

We were successful in adding a State Bank Of India VISA Debit card which wasn’t possible earlier. As of now, the supported debit and credit card types are American Express, Discover, Mastercard, and Visa cards. Paypal has partnered with all major banks in India to enable card transactions through its platform. List of banks includes State Bank of India, HDFC Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Citibank and others. Paypal MD and country Manager, Anupam Pahuja also mentioned about implementing a possible silent way of transacting with these cards in India.

Reliability, Security and Safety

Rohan Mahadevan, CEO, PayPal Pte also stated about bringing 3 basic layers of PayPal’s capability to the Indian market in order to compete with existing wallets. The first is Reliability, highlighting one wallet for domestic and international transactions with 99.99% uptime. Now comes Security, which gives you 24×7 fraud monitoring by forging a partnership with law enforcement to make the system safe. Finally the extent of Safety offered by PayPal with global buyer and seller protection featuring free-return shipping, and a great customer service.

They have also joined hands with most favourite Indian brands allowing shoppers to checkout with PayPal button. Some of the early adopters include ticketing portals like Bookmyshow, MakeMyTrip, PVR, Abhibus, Akbar travels, Yatra, Dineout, and Thomascook. Other e-commerce portals which allow PayPal checkout include Voonik, Pepperfry, Jaypore, Fernsnpetals, Chaipoint, and Mirraw. We can expect more merchants to adopt this global payment giant soon.

RBI implemented certain restriction on PayPal accounts during 2011, which affected some entrepreneurs to some extent. These restrictions include the inability to keep balance in PayPal account and a maximum cap of $3000 to transactions. We are yet to see if RBI makes some amendments to these restrictions since PayPal has entered the transaction market. Hope you enjoyed the article, Peace!

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