PayPal to shutter India domestic biz, IBW News: English News, Breaking News in English, ताज़ा हिदी समाचार

PayPal Holdings Inc will wind down its domestic payments business in India from April 1, the company said in a statement on Friday.

San Jose, California-based PayPal will instead focus on its cross-border payments business, which means global customers will still be able to pay Indian merchants using the service, a Reuters report stated.

“From 1 April 2021, we will focus all our attention on enabling more international sales for Indian businesses, and shift focus away from our domestic products in India,” the company said in a statement.

“This means we will no longer offer domestic payment services within India from 1 April.”

PayPal was a payments options on many Indian online apps such as travel and ticketing service MakeMy Trip, online film booking app BookMyShow and food delivery app Swiggy.

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Ashok Mansukhani, Corporate Law and Media Law Advocate at Ashokmansukhani Associates

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PayPal to shutter India domestic biz

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