PayPal Exiting India
PayPal Holdings Inc in a statement on Friday announced that they will shut down domestic payments business in India from April 1.
However, it will be keeping up with its cross-border payments business meaning global customers can pay Indian merchants by making use of their service.
Statement of PayPal
In the statement by PayPal, they said that “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.”
Meaning they won’t be offering any domestic payment services within India starting from 1 April.
PayPal Earlier Tie-Ups
PayPal was seen on plenty of platforms for payments like online film booking app BookMyShow, travel, and ticketing service MakeMy Trip, and food delivery app Swiggy.