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PayPal Shuts Down Payment Services In India – Report

Gabriel Ojeh




PayPal Shuts Down Payment Services In India

 On Friday 5th, 2021 PayPal announced that it will be shutting  down its payment services in India this  year, and any related related merchant contracts will be terminated on April 1.

In accordance to a statement made by a spokesperson from PayPal,  the company had already started rolling  out it plans to optimize its business when the epidemic broke out in India. Hence, they decided to channel their attention on helping Indian merchants who wish to conduct cross-border trading and export to conduct cross-border remittance business.

Meanwhile, PayPal has 3 built technology centers in India. Furthermore,  It is also its largest technology center outside the United States market. Indian operations include PayPal’s payments gateway and aggregator services for online merchants and brands.

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According to Chief Spokesperson of PayPal who stated as follows “In the early days of the pandemic, when the government’s measures to curb the virus were gaining momentum, we started planning how we can protect our business and optimize our growth here,” the spokesperson told ET.

“India is a very crucial market for PayPal, and after a thorough analysis, we decided that we are best placed here to focus on enabling cross-border trades and exports for Indian businesses aiming to go global.”

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Gabriel is a content creator, A story writer, a poet and he loves writing Puns too. He has written articles for various prestigious sites. He is a freelancer, a hardworking one at that. To reach him:

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