The Silicon Review ^Asia

PayPal the United States – headquartered digital company has reported that there is a jump of over twelve-fold in revenue generated by its Indian payments subsidiary. About Rs 260 crore in the financial year, 2018 was estimated.  whereas in 2017 it saw Rs 21 crore. This data was initially sourced from the corporate affairs ministry.  Also, the net profit grew at a relatively modest pace that is up to Rs 2 crore from Rs. 1.4 crore during the period. PayPal declined to comment on the filings but according to sources, the revenue is going up to the company and also had increased investments in India across heads including technology augmentation.

Only through the partnership of Book My Show, MakeMyTrip, Yatra, GoIbibo, FreshMenu and Box8, PayPal could survive in India. This allowed it to have Indian consumers to start using the PayPal wallet and was quite successful in doing so. “While the basic payment platform coupled with the security features are the same as in the US, we have added local modifications here like two-factor authentication, etc. as per regulatory requirements,” this statement was procured through one of the reports.  PayPal’s peers in India have proven to be quite a great asset to many of its users and have solved many problems faced in the past. So far it has been a great help and it will be in the future according to many users in India.