PayPal helps Aam Aadmi turn into global exporter

From enabling a Maths teacher in Varanasi provide tuitions over Skype to global students, to helping leather goods tailor exports to the West, PayPal is helping turn everyday Indians into exporters. With one out of three B2C (business to consumer) dollars coming via PayPal, the company is looking at bringing wider suite of products to India. 

For PayPal, the pioneer in international digital payments, things have come a circle. After a listing in 2002 and being acquired by eBay in the same year, PayPal has now been spun into a separate company and again listed. As an independent entity, the company which operates in 203 markets and 26 currencies is exploring new opportunities in India Stock Market Trading Tips

Speaking to TOI Vikram Narayan, MD, PayPal India said that the company has been successful in getting such a large share of the cross-border business because of the trust factor. While the increased the reach and awareness of Indian merchants, their business has got a boost because of the protection the company provides to both parties. Last week the company extended its buyer protection program, which was hitherto applicable only to goods, to intangibles such as digital downloads and software. 

Sarita Agarwal, the housewife who provides tuitions, worked with her son Prateek to get a PayPal account, which is linked to their bank account. Similarly, Mohamed Taushif Ansari - the leather exporter from Dharavi, Mumbai is able to sell online as buyers who have done their free registration with PayPal do not have to worry about entering their credit card details on third-party website. The other micro exporters include those handicraft sellers, individual software developers, counselors, experts providing aid in school assignments, and research assistants Indian Stock Market Astrology Prediction

PayPal's buyer protection includes total failure to receive goods or in case the items are significantly not as described (SNAD). According to Narayan, the company recovers the funds from the seller in any of these circumstances. Although there is no physical inspection of the merchant, the company is able to develop a sense of the buyer and assigns limits based on analytics. 

According to Narayan PayPal has a significant commitment to India and has close to 1200 engineers in Indian engaged in development. Although the company has not entered the domestic digital payment space yet, its cross-border payments are seeing sharp growth. 

Although the company is known for the cross-border payments, it has a suite of new products. Its latest acquisition Xoom is a remittance company. PayPal one touch is an online payment service which allows customers to make online purchases with one click - a feature which makes mobile shopping a breeze as no details have to be entered. The company has launched NFC-enabled PayPal Here readers in UK which enables acceptance of payment through contactless cards Commodity Market Astrology Tips