PayPal says to shut down domestic payments business in India By Reuters


© Reuters. FILE PHOTO: The PayPal logo is seen on an office building in Berlin.

NEW DELHI (Reuters) – PayPal Holdings Inc (NASDAQ 🙂 will shut down its domestic payments business in India from April 1, the company said in a statement on Friday. PayPal, based in San Jose, California, will instead focus on its cross-border payments business, meaning that global customers will still be able to pay Indian merchants through the service. “Starting from April 1, 2021, we will focus our full attention on enabling more international sales for Indian companies and changing the focus of our domestic products in India,” the company said. “This means that we will no longer offer domestic payment services within India from April 1.” PayPal was a payment option in many Indian online applications, such as the MakeMy Trip ticketing and travel service, the BookMyShow online movie booking application, and the Swiggy food delivery application.

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