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PayPal starts payments aggregator business for merchants in India

Global payments company PayPal is starting its domestic India operations as a payments aggregator and will be offering its services to merchants. PayPal has been in India for over 10 years now but its Indian users were only engaged in cross-border payments for businesses selling goods and services abroad. “We’re coming to India as a value-added payment aggregator in India and have the appropriate licences to do that," country head and managing director Anupam Pahuja said in the press conference. "{s we move ahead, we are looking at the PPI licences (wallet licence) and looking at the regulations very carefully. We will examine and see what the next step is,” he added. Right now, for merchants, PayPal will be offering One Touch payments, buyer and seller Protection, free refunded return and a 180-days dispute resolution window. The company did not give out details on the number of users and merchants in India but globally, it has 218 million active users and 17 million merchants accounts. These are accounts that have been active for 12 months. In India, PayPal has roped in MakeMyTrip, Yatra, PVR Cinemas, BookMyShow, and Firstcry as their first domestic merchants and will have the "Checkout with PayPal" option. Pahuja added that the company will be adding more merchants in January. PayPal says that it expects 25% jump in conversion rates for merchants in India. Meanwhile Paytm, arguably India's largest payments company right now, has around 280 million registered users and 5 million merchants. Pricing for merchants PayPal did not give specifics on…

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