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.