MUMBAI: Digital payments company PayPal has launched its domestic operations in India; exactly a year after demonetisation was announced last year.
PayPal has been offering cross border payments in India for close to a decade and claims to control a third of India’s B2C export payments. While the company seems pretty late to enter the crowded payments market in India where players like Paytm to Amazon Pay are already aggressively marketing their services, PayPal is banking on Buyer and Seller protection.
This includes 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.
Rohan Mahadevan, CEO, PayPal Pvt Ltd & SVP, General Manager APAC of PayPal, 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.”
PayPal has setup an Indian subsidiary with local call centers with multi lingual support.