PayPal to introduce new services in India

PayPal has revealed plans to introduce a point-of-sale application in India, which will allow online shoppers to use their debit and credit cards to make transactions using mobile devices.

 

The company also plans to launch a money transfer application, which will enable users send and receive money within the country.

 

In 2011, PayPal has made several changes in its user agreements after the Reserve Bank of India announced regulations on online money transfers. As a result, the company had to restrict its India users from withdrawing PayPal funds through a bank and transferring funds directly between two personal accounts.

 

According to Dhruv Sawhney, director enterprise product and global operational excellence at Paypal, cited by online media outlet indiatimes.com, Paypal has been working with the Indian regulators and is now ready to build its base in the country, where it has two development centers.

Leave a Reply

%d bloggers like this: