Paypal still views cash as its main rival in India , despite the influx of new digital payment companies, according to a spokesperson. It is also a gateway, a merchant account, a payment method, a digital wallet and a payment processor to both consumers and merchants." With nearly 85% of transactions still being completed with cash, the company is increasing its efforts in the region to remain a strong contender in a digital payments industry that is predicted to grow to $ 500bn by close to a decade . Paypal, along with rivals Paytm , Whatsapp , Whatsapp and Hike , is leveraging the Indian government's " Innovation Labs " programme to remain competitive. The firm recently launched 200 technology Google in the country to support fintech startups and promote innovative solutions.
Paypal still views cash as its main rival in India , despite the influx of new digital payment companies, according to a spokesperson. With nearly 85% of transactions still being completed with cash, the company is increasing its efforts in the region to remain a strong contender in a digital payments industry that is predicted to grow to $ 500bn by close to a decade . Paypal, along with rivals Paytm , Whatsapp , Whatsapp and Hike , is leveraging the Indian government's " Innovation Labs " programme to remain competitive. The firm recently launched 200 technology Google in the country to support fintech startups and promote innovative solutions.