PayPal Holdings Inc is one of the most online payment systems. You must be using PayPal to transfer money online. But now PayPal Holdings Inc will shut down its domestic payments business in India. Today I am explaining to you about PayPal will shut down domestic payment in India. Read this post till the end to know more about this.
PayPal will shut down domestic payment in India
on Friday a Spokesperson of PayPal company said that We will focus all our attention on enabling more international sales for Indian businesses, and shift focus away from our domestic products in India from 1 April 2021. This means we will no longer offer domestic payment services within India from 1 April.
The Company has also said that its priorities have shifted in India. But the company didn’t explain about shutting down the business.
It was partnered with the travel and ticketing service MakeMy Trip, BookMyShow an online film booking app, and food delivery app Swiggy. Currently, these are removed from PayPal. PayPal will instead focus on the cross-border payments business. It means the global customers are still able to pay the Indian merchants with this service.
PayPal was pausing its domestic payments business in India reported in December by the Morning Context. But the company have denied this claim at that time.
PayPal said that it would allow customers to place bitcoins and other virtual coins in its online wallet. Also, it will make purchases using the cryptocurrency at 26 million merchants on its network in December last year.