PayPal withdraws from Indian market
The transplant did not take. Like many other Western tech giants, PayPal failed to find the keys to the Indian market, yet one of the largest in the world by volume. The online payment giant has just announced that it is shutting down its activities in the Indian domestic market, less than 4 years after arriving in the country. Only transactions from India to international (and vice versa) will be insured.
PayPal leaves the Indian domestic market
Payments and installments via PayPal will no longer be possible in India from April 1st (and that’s not a bad joke …). PayPal has not provided any detailed explanation for this withdrawal, but the reasons do not appear to be too complicated to establish. A recent report indicated that nearly 360,000 businesses used PayPal in India, a tiny drop in the ocean in the country of 1.3 billion people. The American giant had yet forged partnerships with several Indian companies (including BookMyShow and MakeMyTrip), a sine qua non condition for hoping to succeed …
PayPal, however, specifies that its teams will soon be expanded in India, “And not diminished” , but it’s a safe bet that these new hires will concern the management of PayPal payments / deposits from India to the International.
