PayPal mulls expanding India footprint, aims to be top player in next 5 yrs

The digital payments space is currently dominated by Paytm, PhonePe and Amazon Pay in India

Global technology platform and digital payments giant, PayPal, is planning to expand its presence in India’s burgeoning digital payments space.

Speculations have been on for more than a year over the US-based company’s expansion plans in India, since reports came out of it planning to buy Snapdeal’s payments wallet Freecharge. Though it has been in India for a decade, PayPal has not launched a wallet or other fin-tech services in the country.

The space is currently dominated by Paytm, PhonePe and Amazon Pay. PayPal, however, plans to corner a lion’s share of the market in the next five years.

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