PayPal India said that one of three transactions done by Indian shoppers who order from abroad is done through PayPal. The company today released a report of Indian consumer trends and launched their new payment service for PayPal Me.
The payment company said that their focus in India currently is for cross-border transactions. Most of the Indian users prefer to spend money on Shopping, Events, Travel and Digital education for the transactions going out of India.
Apart from the consumer transactions, the company is focused on the helping the small and medium businesses.
PayPal today launched a new service called PayPal me that lets the registered users create a unique URL for payment. The business owner or freelancer can share the URL to anyone outside India, to receive one click payment.
"PayPal Me is great for services industry which is thriving In India. There is a huge demand for website development, mobile app design and more. And a lot of freelancers work from India to make this happen. This is an easy way for them to get paid. Especially when as a freelancer you don't have an account team," PayPal India's head Anupam Pahuja Told HuffPost India.
"One of the most popular freelance website Upwork uses our services and a lot of Indian freelancers would get help from PayPal Me," he added.
Although the company said that they don't have any plan to launch the domestic transactions as of now. It believes that the Indian market is very vast and there is a huge opportunity in the future.
"We are right now concentrating on the B2C transactions. We want a small business from Jaipur to sell goods to people in New York. For that, we are soon launching a directory of merchants in India who has signed up on PayPal," Pahuja said.
"This way more and more sellers can be discovered from people abroad. This would also help PayPal in letting the small business know that we can help them easily in a couple of steps," he said.
PayPal India lets the consumers transact abroad by registering their credit or debit card on the service once.