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
  • About Us: Join Hands with Apollo diagnostics and start a business..
    Locations looking for expansion Andhra Pradesh
    Establishment year 2002
    Franchising Launch Date 2015
    Investment size Rs. 2lac - 5lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Hyderabad Andhra Pradesh
  • Superstores
    About Us: Well Known Crockery, House Hold & Houseware Retail Brand Narendra..
    Locations looking for expansion Gujarat
    Establishment year 2018
    Franchising Launch Date 2019
    Investment size Rs. 30lac - 50lac
    Space required 660
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Vadodara Gujarat
  • Drinking Water
    BCCPL owned a master franchise for Imperial Blue & Royal..
    Locations looking for expansion Haryana
    Establishment year 2018
    Franchising Launch Date 2020
    Investment size Rs. 30lac - 50lac
    Space required 15000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Tea And Coffee Chain
    About:   1)   We are Running A Coffee Shop last 5 years..
    Locations looking for expansion Haryana
    Establishment year 2019
    Franchising Launch Date 2020
    Investment size Rs. 30lac - 50lac
    Space required 1200
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities