US major PayPal set to launch UPI-based digital payments in India

Its entry will increase competition especially when WhatsApp too has received approvals to launch payments

Close on the heels of WhatsApp getting key approvals to launch digital payments in India, its US peer PayPal is also set to jump on to the bandwagon.

One of the biggest international remittance services in the world, PayPal Holdings Inc will launch a peer-to-peer (P2P) payments feature in India, sources in know of the company’s plans said.

The service is based on Universal Payments Interface (UPI), India’s indigenous digital payments network, and will roll out in “coming months.”

The move pits PayPal right up against Paytm, Google Pay, PhonePe, and a few others, and comes at a time when