Today in a statement PayPal announces shutting down its domestic payment business in India which will be affective after 1st April, 202...
The US based company said that the cross border payment business is still available and people from other country able to pay to the Indian merchant using PayPal service and vice versa.
"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." - the company said.
PayPal was a payment option for users for many Indian Online Apps like MakeMyTrip allows users to pay through PayPal for their travel and ticket booking, BookMyShow to book shows tickets and Myntra the fashion e-commerce site.
Last Year in October PayPal also allows users to hold their crypto currencies like Bitcoin or any other digital coin in their PayPal wallet and shop using them to all the merchandise available on their network.
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