Can PayPal Unlock India Growth With UPI Play?
India, Feb. 24 -- In the last three years, Unified Payments Interface or UPI has become the biggest fintech success story in India. To tap this burgeoning segment, US-based payments giant PayPal is now looking to launch UPI-based peer-to-peer (P2P) payments feature to add to its presence in the Indian market.
PayPal is currently only operating peer-to-merchant (P2M) transactions which are facilitated by net banking or debit or credit cards. The company also facilitates international remittances from India. Globally, PayPal has over 300 Mn users.
According to a Business Standard report, PayPal is planning to launch this service in the near future. As of now, companies such as Paytm, Google Pay, PhonePe, Amazon Pay among others are facili...
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