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Published
Nov 2, 2017
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PayPal to offer domestic payment services in India

Published
Nov 2, 2017

PayPal will be launching their services in India from next week and will work with banks to offer digital payment solutions.

PayPal will launch its domestic payment services in India next week - PayPal- Facebook


As more and more payment companies, both domestic and global, enter the Indian market, PayPal has announced that it too will expand operations in India. PayPal does currently operate in India but only in a very limited capacity. The business does allow for cross-border payments made for small merchants that sell items abroad. From next week, the general public will be able to download the PayPal mobile app and use it to pay for goods and services throughout India.

While PayPal offers a range of services in the US where the company is based such as peer-to-peer payments, a payment gateway service, offline retail payments, and remittance, only merchant payments will be rolled out in India for the time being. It is however expected that PayPal will gradually introduce its other services into India in the future.

PayPal have not so far sought a Prepaid Payments Instrument (PPI) licence from the Reserve Bank of India which would allow them to operate a digital wallet. However, the business aims to tie up with several Indian banks and this would allow them to use the Unified Payments Interface to facilitate domestic payments through their banking partners.

Demonetisation was the major force that drove the rise of online payments throughout India along with a rise in the popularity of online shopping. PayPal’s standing as an international business may draw customers but domestic payment services are also on the rise. Apple Pay is also scheduled to launch in India in the near future and so the online payments market is becoming increasingly competitive. 

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