PayPal to wind up services in India from April 1

From April 1 this year, PayPal Holdings Inc will wind up its domestic payments business in India the company has said in a statement. Instead it will lay focussed on its cross-border payments business. This 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," it added.

PayPal was a payments option of many Indian online apps such as travel and ticketing service MakeMy Trip, online film booking app BookMyShow and food delivery app Swiggy.