PayPal has launched the domestic payments platform in India after the success of companies like Paytm and Freecharge in the Indian market. It is the most successful company in this segment and it is a very good news for Indian people. Merchants offering PayPal will be able to do both local and global payments the domestic operations.
It has been offering cross-border transactions for Indians for almost a decade and now it will be used by both merchants and customers to transact in India. However, Indian users will not be able to store their money in wallets as the company is yet to receive a prepaid payment instrument from RBI.
The CEO of PayPal is hoping for a good response from the Indian market as he 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.”
A big benefit of PayPal over such companies is they never shares its customer data is with merchants or any third-party. There is also an option for free return shipping if the customer is not satisfied with the quality of the product. Along with this, there is also an option to file a dispute with the merchant up to 180 days.
PayPal has decided to shake hands with famous companies like MakeMyTrip, Yatra, PVR Cinemas, BookMyShow and Firstcry, to provide the “Checkout with PayPal” option. The service is expected to start in January for the larger merchant base.
