Categories: Business

Paypal to shut domestic payments service in India from April 1

The California-based global digital payment platform PayPal has announced that the company has decided to wind down its domestic payment services in India with effect from April 01, 2021. The decision has been taken because the company wants to shift its focus on cross-border payments business.

WARRIOR 5.0 Batch for SBI, RRB, RBI and IBPS Exams Banking Awareness Online Coaching | Bilingual

However, the global customer will be able to pay Indian merchants using Paypal. PayPal was a payments options on many Indian online apps such as travel and ticketing service MakeMyTrip, online film booking app BookMyShow, and food delivery app Swiggy.

Important takeaways for all competitive exams:

PayPal Founded: December 1998, Palo Alto, California, United States.
PayPal CEO: Dan Schulman.

Find More Business News Here

Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.