You are here: Home » Companies » News
Business Standard

PayPal partners Shopmatic to facilitate cross-border transactions

Partnership will enable merchants of Shopmatic to expand their global footprint

Maryam Farooqui  |  Mumbai 

PayPal partners Shopmatic to facilitate cross-border transactions

Digital payments company PayPal today entered into a strategic partnership with Shopmatic, an international e-commerce company that manages the entire ecosystem for online sellers.

The partnership will enable merchants of Shopmatic to expand their global footprint backed by the flexibility, convenience and security offered by PayPal.

Singapore based e-commerce company Shopmatic was incorporated in December 2014 by Anurag Avula, Yen Lim, and Kris Chen. Priced at $20 a month, it helps merchants develop their own webstore, list them on marketplaces and social channels, and also provides insights on how to sell online.

It caters to a multitude of merchants from existing customers/merchants who are selling their products and services with no online presence to existing customers/ merchants, selling their products and services offline through online marketplaces. It is focused on helping not only, the small and medium businesses and individual entrepreneurs to find their feet in the online world but also give them global exposure.

Commenting on the partnership, CEO of Shopmatic Group, Anurag Avula said, "Managing payments is one of the biggest challenges for small and medium enterprises. We are delighted to partner with PayPal to enable cross border trade for Indian sellers making it easier for merchants to accept payments from customers outside India. With the significant opportunity of over 51 million small and medium businesses, we believe that this association will provide a platform for businesses to grow their business in the global marketplace."

PayPal, which facilitates online payments for hundreds of thousands of Internet e-commerce ventures, processed 4 billion payments last year. It has 173 million active customer accounts and is available to people in 203 markets.

"We are happy to announce Shopmatic as our first Indian partner to enable online commerce. The emerging digitization has had a strong impact on not only taking SMEs online domestically but enabling their ambitions globally," said Hamish Moline, Vice President for Regional Merchant Services and Southeast Asia at PayPal APAC.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, January 12 2016. 16:28 IST