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HEADLINES & GLOBAL NEWS By Feb 06, 2021 12:01 AM EST Four years after it kickstarted its money transfer and exchange operations in the second largest internet market globally, India will no longer have access to the American giant s domestic business due to the PayPal shutdown in the country. According to the company spokesperson, the PayPal shutdown will take effect locally in India starting April 1, 2021. They will focus their attention on enabling more international sales for Indian businesses and shifting their focus away from India s domestic products. It means that PayPal will no longer offer domestic payment services within India, the spokesperson added. According to the American giant s statement, their priorities had shifted in India, but it did not explain why the business s winding down, Payments Journal reported. ....
PayPal Holdings Inc will wind down its domestic payments business in India from April 1, the company said in a statement on Friday. San Jose, California-based PayPal will instead focus on its cross-border payments business, which means global customers will still be able to pay Indian merchants using the service. From 1 April 2021, we will focus all our attention on enabling more international sales for Indian businesses, and shift focus away from our domestic products in India, the company said. This means we will no longer offer domestic payment services within India from 1 April. PayPal was a payments options on many Indian online apps such as travel and ticketing service MakeMy Trip, online film booking app BookMyShow and food delivery app Swiggy. ....