Paypal has finally come to India. The announcement comes on 8 November, a day the country marks one year of the demonetisation of Rs 500 and Rs 1,000 notes.
The Indian government's recent push towards digital payments has led PayPal to partner with the government and state-owned banks on number of initiatives, including digital financial literacy programme and eTourist Visa (eTV), the company said.
In a statement issued by PayPal Holdings, Inc has said that Indian consumers can use PayPal to shop online at some of India's most popular businesses, which has been detailed on their website.
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 integrationPayPal statement
To use the service, you need to download the PayPal app, which according to the company, doesn’t function like an e-wallet because PayPal is device agnostic.
They also claim that security of user data is given utmost priority, and never shared with third-party services, as their account is directly linked to his/her bank account.
Change your card details only once, without doing it repeatedly for each and every service you use
In addition, ‘PayPal has announced free return shipping service in India, where consumers can return their goods to the merchant, if they are not satisfied with the quality or the product. They also plan to integrate other local payment options such as UPI, which, according to them “is just a couple of coding changes” away.
They will also introduce EMI facilities for customers in the near future.
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