PayPal will be joining an already crowded Indian online payments field competing with leader Paytm backed by Alibaba as well as Google’s Tez, Facebook’s WhatsApp, Flipkart-owned Phonepe and of course the ever ubiquitous Amazon Pay.
According to reports, PayPal will be looking at powering payments on website checkouts. An anon source quoted says: “PayPal has tied up with a dozen merchants to start off their operations in India, where during the online checkout process customers will be shown the PayPal payment option.”
As it stands, PayPal is already available in India but only for cross border trading. PayPal hasn’t made a comment but it looks like the India roll-out will be restricted to domestic merchant services and not the other PayPal services such as PayPal Credit.
Needless to say India is an attractive market for online services and the billion strong population means that it’s a potentially valuable, if still nascent, online market to tap into.
Powering website payments is a good option, although there’s not likely to be a marketplaces sideline any time soon because eBay has got into bed with Flipkart. Person to person payments could also be a lucrative activity but it’s crowded out there already and PayPal India is late to the game taking on some established domestic players.