PayPal India announces 1% rebate in currency conversion processing fee

NEW DELHI: Digital payments company PayPal has announced a 1% rebate in Currency Conversion Processing Fee for payments received through PayPal for small merchants and freelancers.

The rebate will help improve merchant economics in the cut-throat e-commerce environment.

Hamish Moline, Vice President, Regional Merchant Services, PayPal APAC said, “As a key player in India’s fast-growing e-commerce and payments market, we have enabled hundreds of thousands of Micro-Small-Medium Entrepreneurs (MSMEs) to export to our 179 million customer accounts in 203 countries. This step is in line with our efforts to improve the payment ecosystem and build competitiveness for our merchants across the globe.”

The familiarity with PayPal eases the process of payments for most international buyers who purchase Indian goods and services. This rebate will help spur cross-border exports and contribute positively towards the growth of the Indian economy.