PayPal to shut down domestic payment operations in India


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Barely fours years after they introduced local digital payments in India, PayPal has decided to wind down this service. However, the company would continue with its cross-border payment facilitation with a focus on the small and medium companies doing business overseas.

In a statement, the company announced that from April 1, 2021, the US-based digital payment giant would only focus on its services on international payments. Ironically, when reports of such a move had first emerged last December, the company had vehemently denied it. 

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