In the recent years there has been an influx of numerous online payment portal enterprises in India. Some of the famous payment portals like PayTM, PhonePe, and Amazon Pay have been ruling the roost in the last few years and have successfully managed to broaden their user base in diverse parts of India. American Financial sector behemoth, PayPal decided to cash in on the craze and rapid increase in online payment portals usage in India so they have entered Indian market recently in hopes of profitably expanding their reach in Indian Subcontinent.
PayPal offers three types of accounts to cater the needs of 3 distinct types of customers – for Shoppers, for Business purposes, for Freelancers. The first type of the account is dedicated to customers who wish to make online or virtual transactions on purchase of any items in Online or offline mode. It is similar to how people nowadays use PayTm and PhonePe to pay at retail outlets instead of cash. PayPal has announced enticing cashback offers to its new customers who make their first purchase by processing their payment through PayPal. The users will get an instant 50% cashback on their first local PayPal purchase.