PayPal announced earlier this week that it has launched domestic operations in India. The company revealed that over the past decade it has been on a journey to digitize India by enabling cross-border transaction.
“Today, we are proud to announce that we are adding domestic payment capabilities to our portfolio in India. Indian consumers can now transact with PayPal with some of India’s marquee merchants including BookMyShow, Makemytrip, PVR and Yatra. . These merchants can now process both local and global payments for PayPal’s 218 customer accounts around the world through a single integration.”
PayPal also stated that it will offer a set of services designed to help consumers shop online with confidence and merchants differentiate themselves. This includes features such as One Touch, Buyer and Seller Protection and Return Shipping on Us are just some of the benefits available at launch setting the stage for a differentiated payments experience.Along with launching operations in India, PayPal is reportedly making plans to open operations in 16 other countries.
The company also announced the launch of a new fundraising feature called Money Pool. The platform is dedicated to group gifts, travels, special events, and even a helpful hand. There are no fees to set up a page or for friends to chip in when they use their PayPal balance or bank account. Only a small fee applies to those who choose to use a debit or credit card. All donations are secured, with PayPal promising that its encryption keeps online transactions guarded and it monitors transactions 24/7.