Paypal to shut down its India Operations
New Delhi, Feb 5, 2021: Digital payment solution provider Paypal will stop offering domestic payment services within India from April 1.
The US-based company will instead focus on enabling more international sales for Indian businesses.
'We will continue to invest in product development that enables Indian businesses to reach nearly 350 million PayPal consumers worldwide, increase their sales internationally, and help the Indian economy return to growth, a PayPal spokesperson said.
The company noted that it had processed USD 1.4 billion worth of international sales for over 3.6 lakh merchants in India last year.
PayPal can have the greatest positive impact in India's economic recovery by pivoting its business to support customers where they need the company most, the spokespers...