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PayPal is shutting down domestic payments business in India
Probably, too many Paypal alternatives in Indian domestic market..
https://techcrunch.com/2021/02/04/paypal-is-shutting-down-domestic-payments-business-in-india/
Comments
In India we have lots of options to pay. Sometimes I saw PayPal option as a payment method on some website and even PayPal provide offer for cashback but never used it for some reason.
Paypal need money for Marte .... in the last years the fees was grow exponentially , the treatment with the called "3rd county" is the wrost i have received ever. ETC ETC ... so finally i hope the hosting industry will see all this and will remove paypal from the list. Right now is a must but i hope came this day when paypal will not used anymore for such quantity of people.
UPI killed paypal in India.
Yes, Service by PayPal in India is a bit harsh. Even they are using Citi Bank, which has very less number of branch and the minimum amount is high for small business. Support is almost dead by PayPal in India.
I almost forget about UPI. I use UPI for my all transactions because of its so easy to use it.
Well not only UPI, they actually started late in domestic payment processing. Setting up Paypal for local payments has more hurdles than setting up for International Payments. For local payments you have trade license etc but for International Payments just Email id, PAN number and a bank account is enough.
Moreover they had to compete with the likes of CCavenue who have been in the market for years. Lately we have Paytm, Rayorpay etc.
Also Stripe in India is more business friendly than Paypal ( for local payments ). For International payments, Stripe needs GST etc.
I think Cashfree is related with PayPal. Iam using Cashfree for my woocommerce store.
So true.
I'm really glad, and rather proud that NPCI made such a revolutionary product.
In India, we are having great alternatives with minimum fees. This may be won't really matter for Indian merchants.
How about international market? Domestic payments can be saturated niche.
use other gateways for Indian customers e.g payumoney, ccavenue both charge 2% whereas PayPal charge 4.4% PayPal costly.
we are currently using payumoney and it's working fine for us.