There is no doubt that PayPal is a leader in digital transactions globally. In fact, 10 million merchants and developers with payment enabled apps helped PayPal drove $14 billion in volume last year.
Today’s consumer retail and financial services experience is a heterogeneous mix of devices, channels and operating systems – at any given merchant or even a financial institution. And with the ecommerce boom in India, PayPal is leaving no stone unturned to better itself in the country. With almost 10% of its task force coming from India, the company is one of the most preferred option for any kind of digital transaction.
Some time back, Dan Schulman, President and CEO, PayPal had said that his goal – and that of PayPal’s entire team – is to get consumers who use PayPal two or three times a month to use it two or three times a week. And for the same reason the company is keeping it stakes high for the Indian market.
There is no doubt that PayPal is the gorilla among independent digital payment service providers with more than 169 million active accounts, global scale and brand recognition. In fact, in India majority of freelancers and online entrepreneurs’ use PayPal for all digital transactions.
PayPal India employees build different units of the payment platform and generate analytical insights for its merchants from its Bangalore and Chennai offices.
Paypal’s Chennai office is its biggest development center worldwide. PayPal’s 149 million global users are a huge opportunity for Indian merchants in terms of cross-border trade.
About 25% of PayPal’s global business was cross-border trade.
The company is relying on its strong global standing to conquer the Indian digital payment market.