PayPal, the international payments major has entered into a partnership with Indian online payment service provider, E-Billing Solutions (EBS) which will see EBS becoming a channel partner for the global payments company.
The company said that this will be beneficial for its small exporters/merchants to gain access to PayPal’s 113 million active accounts. The deal will help small merchants to add the PayPal button to their existing options thus increasing their reach in a big way in global markets. Another significant feature resulting from this partnership will be the ability of the merchants to accept payments from day one as compared to longer periods like 30 days and 90 days which are being offered by existing Indian payments companies and export models.
EBS released an official statement regarding the partnership.
“Through this strategic partnership, over 5,000 EBS online merchants can instantly add PayPal as a payment option to their EBS merchant account and sell to PayPal’s 113 million active accounts in 190 markets.”
This is good news for small time exporters as it makes their job of reaching to bigger clients and markets easier. Also it simplifies a lot of things. PayPal has been an influential part of the online payments sector and has done really well for itself. It has made its founders and early venture capitalists billionaires. Notable among those are Peter Thiel of Facebook fame and Elon Musk of SpaceX. The company was later acquired by eBay. The company is currently focusing on mobile payments with the introduction of its PayPal Here service which seeks to compete with Square.
Story Source | MoneyLife
Image Source | CityOfMerced