Global digital payments player PayPal has today announced that the launch of its domestic operations in India. For about a decade, the company has been offering cross-border payments service in the country.
In a statement, the company said:
At launch, Indian consumers can use PayPal to shop online at some of India’s most popular businesses. Merchants offering PayPal will be able to process both local and global payments through PayPal, getting access to PayPal’s 218 million customers around the world and in India through a single integration.
It further said that the Indian government’s recent push towards digital payments has also led PayPal to partner with government and state-owned banks on a number of initiatives, including digital financial literacy programme and eTourist Visa (eTV).
While the Indian digital payments market is already being dominated by the likes of Paytm and others who are aggressively marketing their services, PayPal is banking on Buyer and Seller protection.
The platform offers a 180-days dispute resolution window, which means PayPal will refund the money if an online seller does not send the goods purchased by the customer. PayPal will also pay the merchant in case the customer does not end up paying for the goods.
Anupam Pahuja, Country Manager and Managing Director, PayPal India, said,
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 have immense scope to enable this at scale. For us, the marathon has just begun.
PayPal has setup an Indian subsidiary with local call centers which will provide support to the users in various regional languages. It also has a ground sales team for customer engagement and education.