PayPal to shut domestic payment product in India

BENGALURU : American digital payments major, PayPal Inc. on Friday said that it will be winding down its payment operations in the country and will shut down its domestic payment services in India, starting April 1.

PayPal was offering its payment gateway to Indian brands and online merchants, as well as providing international remittance services for small and medium enterprises including exporters, in the country.

Moving forward, the company will look at streamlining its focus towards enabling cross-border payments for small and medium enterprise (SME) merchants.