PayPal wants to go live with UPI payments in India, challenges and opportunities alike www.deekpay.com

## PayPal enters India's UPI payments market: opportunities and challenges ahead Global digital transaction giant PayPal is finally entering India's Unified Payment Interface (UPI) market! Over the past three years, UPI has become the biggest and most successful fintech case in India, spawning a thriving digital ecosystem that has attracted the participation of global giants including Google, Amazon, WhatsApp, and Xiaomi, as well as outstanding local companies such as PhonePe and Paytm. PayPal, however, has missed out on this opportunity and has only now started working on launching UPI-based payment services. It is learnt that PayPal's UPI peer-to-peer payment service will soon go live and will facilitate merchants and businesses selling goods and services to India abroad. But it was not an easy decision as the Indian UPI market is highly competitive and PayPal is facing challenges from many giants and unicorns. Something for PayPal to consider: - Does it have the financial strength to compete with its competitors? - Is it willing to invest enough resources to capture the market? Reference case: - Xiaomi: Developing financial services through the needs of customers in its own ecosystem, which may provide a lesson for PayPal. - WhatsApp: Although it has been trying for years, it has finally obtained permission from the National Payments Corporation of India (NPCI) to launch UPI-based payment services in phases. The growth of the Indian fintech market: - New Delhi-based fintech firm BharatPe closed a $75 million Series C funding round, aiming to scale up its credit services by setting up its own NBFC company. - Mirza Adityaswara, former deputy governor of Indonesia's central bank, joins digital wallet OVO as Commissioner Chairman to support OVO's management and long-term sustainability strategy. Star Alloy Section: - Dedicated to providing equal and fast financial services to micro and small individuals in the Asia Pacific market. - Provides one-stop solutions to more than 400 small and medium-sized mutual funds as well as traditional financial enterprises in Indonesia, Vietnam, Philippines and India. - Average daily lending is 60,000 loans, and total daily app activation reaches 350,000 Summary: PayPal's entry into the Indian UPI payment market is both an opportunity and a challenge. How to deal with the fierce competition and how to meet the relevant regulatory requirements will be the difficulties PayPal needs to overcome. At the same time, the Indian fintech market is developing rapidly, and many innovative companies have emerged, providing PayPal with opportunities to learn and learn from them.