In a big move, PayPal has announced that it is going to shut doesn’t it’s domestic business in India. Started around four years back, PayPal was in the race for quite some time with other players operated by Walmart, Facebook, PayTM and Google.
“From 1 April 2021, we will focus all our attention on enabling more international sales for Indian businesses, and shift focus away from our domestic products in India. This means we will no longer offer domestic payment services within India from 1 April,” said a company spokesperson.
A spokesperson said that PayPal will be shifting it’s focus on enabling domestic businesses with international payments. “With the shift in priorities, some PayPal employees have been reassigned to new teams. Our focus is to always minimize the impact on our people whenever possible. Overall, our workforce is growing in India, not reducing. We are currently recruiting across our sites in India in large numbers,” a spokesperson said.
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