Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

PayPal India: Jumps Twelve-Fold in Revenue

PayPal India: Jumps Twelve-Fold in Revenue

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.


Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...