One of the giants of the payment gateway industry, PayPal is widely used internationally and has made a huge change in the way payment gateways were looked at. Recently, the brand announced that it will be now launching in India, getting us one step closer to making online payments better, faster and hassle-free.
The major business objective of the global company is to make the transactions between merchants and customers within the country possible since earlier it was confined only to cross-border payments.
PayPal has launched its app which can be used to make professional invoicing, digital payments and computer sales insights possible. It is now also possible to accept payment in various countries as need be from across the world, thus getting India one more step closer to global digitalization. One of the major objectives of PayPal is that it will bridge the distance between freelancers and business entities to make business processes much better.
“Our focus is to enable payments in a convenient and safe manner and help merchants and freelancers grow their business. The PayPal for Business app solves some of the most common problems faced by SMEs and freelancers. It empowers them to run their business seamlessly and goes beyond just processing payments,” highlights Narsi Subramanian, Director -Growth, PayPal India.
However, the license for prepaid payment instrument (PPI) is still pending from the RBI, thus making it impossible for users to able to stock any digital money in their PayPal account. This limitation will hopefully be taken care of soon, giving users complete access to using PayPal successfully.
PayPal is also viewing to render its services at a slightly premium rate than others in the industry, justifying the quality and various value-added services it shall be including in its wide range of offerings.
Let’s hope that PayPal makes digital transactions easier and safer in India in the years to come.