American digital payments company PayPal launched domestic operations in India. At launch, Indian consumers will be able to make transactions at select online merchants.
Merchants offering PayPal will be able to process both local and global payments through the platform, getting access to PayPal’s more than 200 million customers around the world and in India through a single integration.
However, customers in India will not be able to store any money in their PayPal accounts as the company is yet to receive a prepaid payment instrument (PPI) licence from the RBI.
Current/Static Takeaway Points Important for IBPS PO Mains 2017 Exam-
- PayPal Headquarter- California USA, Founded in- 1998.
- PayPal Holdings Inc President and CEO- Dan Schulman.
Source- The Hindu Business Line