PayPal to focus on cross-border trade in India; continues to hire

PayPal, which recently shut down its domestic payments in India, on Wednesday said it continues to hire aggressively in the market which is the ‘bedrock’ of its development capabilities.The company is

PayPal, which recently shut down its domestic payments in India, on Wednesday said it continues to hire aggressively in the market which is the ‘bedrock’ of its development capabilities. The company is working towards evolving from being a payments platform to a commerce platform, Senior Vice President (Omni Payments) at PayPay, Jim Magats, said, adding that the focus for India continues to be on small merchant businesses and enable them to do export. “We took the decision [to exit digital payments business] for PayPal’s best interest...there are lots of providers that are in the market within India for domestic payments. I think there are very few that have the strength and capabilities that can bring cross-border and we decided to focus our efforts on where we thought we could add the most value,” he said.