Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jan, 03 2019

PayPal posts twelve-fold jump in revenue in India

PayPal has posted more than twelve-fold jump in revenue generated by its Indian payments subsidiary to Rs 260 crore in financial year 2018.

PayPal posts twelve-fold jump in revenue in India

PayPal, the US-headquartered digital payments company, has posted more than twelve-fold jump in revenue generated by its Indian payments subsidiary to Rs 260 crore in the financial year 2018. In the previous year, the company had reported revenue of Rs 21 crore.

PayPal’s net profit increased at a relatively modest pace during this period, up to Rs 2 crore from Rs 1.4 crore in the previous fiscal. 

A person privy to the information said, "With revenue going up, the company had increased investments in India across heads including technology augmentation, expansion of headcount in India and a new office in Mumbai. The company, which has been among the most popular players for cross-border transactions, entered the fiercely-competitive domestic-payments business by entering into a partnership with online merchants such as Book-MyShow, MakeMyTrip, Yatra, Goibibo, FreshMenu and Box8 to allow Indian consumers to start using the PayPal wallet."

"While the basic payment platform coupled with the security features are the same as in the US, we have added local modifications here like two-factor authentication, etc., as per regulatory requirements," it added.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Quick Service Restaurants
      Investment Brand Fee Space Staff Exp. Monthly Sales Pro..
    Locations looking for expansion Madhya Pradesh
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 5lac - 10lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Indore Madhya Pradesh
  • After School Activities
    The Brainbay Eduspark Profile The Brainbay Eduspark corporate office is located..
    Locations looking for expansion Tamil nadu
    Establishment year 2008
    Franchising Launch Date 2016
    Investment size Rs. 50000 - 2lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Tambaram Tamil nadu
  • WE HAVE ENTIRE RANGE OF BAKERY PRODUCTS LIKE BREADS, COOKIES,..
    Locations looking for expansion Uttar pradesh
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ghaziabad Uttar pradesh
  • Quick Service Restaurants
    FOI was started on 17 February 2011 with small outlet in..
    Locations looking for expansion Madhya pradesh
    Establishment year 2011
    Franchising Launch Date 2012
    Investment size Rs. 5lac - 10lac
    Space required 350
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Indore Madhya pradesh
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities