The global digital payments giant Paypal has finally made its stand in India. The payment processing company has started it’s full-fledged domestic payment operations in India. You can now start using PayPal to shop online at some of India’s popular online stores.
Customers can pay confidently online via PayPay with its sets of world-class service and protection. This includes One Touch login and payments, 180-day refund window, Buyer and Seller Protection and free return shipping (Note that refunded returns service is valid only until 30 October 2018). It’s 100 percent free to sign up for a PayPal account. You can then securely link both your Credit Card and Debit Card issued by any state-owned banks to shop in India and across the world.
The best part there’s zero transaction fee (only a fee on GST in India and a currency conversion processing fee when shopping overseas) to use PayPal for your online shopping. Some of India’s leading stores currently accepting PayPal payment includes BookMyShow, MakeMyTrip, Firstcry, PVR Cinemas, Yatra, Pepperfry, Thomas Cook, Fernsnpetals, Chai Point and others.
For merchants, Paypal will able to seamless process both local and global payments through a single integration. You can accept digital payments from 200+ world markets with a single business account. If you are wondering what would be the transaction charges, then Paypal will charge a transaction fee based on your total sales volume. The best part, the payment gateway offers a simple pricing with no monthly fee.
“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,” said Rohan Mahadevan, CEO PayPal Private Limited and SVP & general manager (APAC) at PayPal. ” 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,” he added.
Paypal starts India Operations
- Paypal starts payment operations in India with all regulatory approvals.
- Local multi-lingual customer service centre.
- Dedicated sales team to drive customer engagement and education.
- Customers get One Touch login and payments, 180-day refund window, Buyer Protection and free return shipping.
- Merchants can accept digital payments from 200+ world markets.
The Indian version of the payment gateway comes nearly a decade since Paypal started allowing Indian users to make an international transaction. It was one of the biggest tools for freelancers and SMEs to tap into global opportunities. Yet, the company was scrutinized multiple times by Indian regulators and RBI.
However, this time PayPal has prepared itself and started its full-fledged Indian subsidiary with all regulatory guidelines and approvals. The Paypal Indian subsidiary includes local multi-lingual customer service centre for shoppers and merchants. They also have an on-ground sales team, who will drive customer engagement and education.
Recently, as part of India governments digital payment push, PayPal has started a number of initiatives like digital financial literacy programme and eTourist Visa in partnership with government agencies and state-owned banks. Paypal also came to spotlight with a report suggesting that the company was looking to acquire FreeCharge from Snapdeal. However, the deal didn’t go through and FreeCharge was bought by Axis Bank.