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PayPal starts payment services in India


(Reuters) - Payment processor PayPal Holdings Inc on Wednesday launched domestic operations in India, a market already dominated by China's Alibaba-backed PayTM, the country's leading digital payments firm.PayPal's entry in the Indian market comes as a push for cashless transactions by the Narendra Modi-led government is seeing more people use e-wallets and card payments.The online payment industry is pegged to grow ten-fold to $500 billion by 2020. ("India is transitioning away from our biggest competitor - cash - and our digital platform and technology has immense ...

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First Published: Wed, November 08 2017. 23:21 IST