San Jose, California headquartered PayPal‘s India subsidiary reported an over twelve-fold jump in revenue for financial year 2018. As a result, the company has increased its investments in India, augmented its technology, and will hire new employees in the country. PayPal will also launch a new office in Mumbai.
While the basic payment platform, coupled with security features, is the same as in the U.S., the company has added modifications in India such as two-factor authentication per regulatory requirements.
“India is transitioning away from our biggest competitor (cash), and our digital platform and technology has immense scope to enable this at scale,” said Anupam Pahuja, country manager and managing director of PayPal India. “For us, the marathon has just begun.”
Launched in India in 2017, PayPal formed partnerships with online merchants such as BookMyShow, MakeMyTrip, Yatra, Goibibo, FreshMenu and Box8. The online payments industry in India is expected to grow tenfold to $500 billion by 2020.
Last updated: December 26th, 2025
