PayPal is looking to brand its payments services to a greater extent than appealing to Indian freelancers as well as modest businesses yesteryear cutting its forex telephone commutation fee yesteryear 1 percent point. Anupam Pahuja, full general director at PayPal India, explained that the novel fees volition total to 30-40 per cent savings for Indian merchants.
PayPal of late launched its ain P2P payment service called PayPal.Me, which allows cross-border payments betwixt parties without the ask to divulge sensitive banking details, "Freelancers or Sellers no longer ask to mail a manual payment asking or detailed depository fiscal establishment work concern human relationship number, SWIFT code. They tin only mail their PayPal.Me link spell chatting alongside their customer as well as buy the farm paid correct away," explained Pahuja. The novel service supports 26 currencies as well as industrial plant alongside major debit & credit cards.
PayPal is strategically positioning itself to guide maintain payoff of the ascent tide of freelancers inward India. According to information compiled yesteryear Truelancer, a whopping 25% of the entire Indian workforce is freelancing, alongside freelancers contributing $400 billion to India’s GDP:
Anupam Pahuja tells The Times of India:
"India every bit an chance is non lost on PayPal. We are looking at the correct agency as well as correct fourth dimension to come upwards to India. It is non a inquiry whether nosotros volition come upwards to Republic of Republic of India or not. It is a inquiry of how, what as well as when."