Global payments major PayPal soon to jump the UPI bandwagon in India says report

PayPal India, the Indian arm of the Nasdaq-listed global digital payments major, is planning to go live with a Universal Payments Interface (UPI)-based digital payment services in the coming months according to a Business Standard report.

If launched, PayPal will compete against existing fintech platforms that offer UPI services that were first introduced by the National Payments Corporation of India (NCPI). Apart from NCPI’s BHIM UPI, the platform will join the likes of Google, Amazon, WhatsApp, Xiaomi, and local platforms such as PhonePe and PayTM.

Reliance’s Jio too had launched UPI payments on its MyJio app in January.