PayPal Lends a Mobile Payments Hand in Indian Exports
Companies tend to like exporting products, because it means a completely different market to access that may not be having economic troubles when the current “home” market is. That can lend a note of stability to a company’s processes, and from there, its bottom line. It’s not always easy to get into exporting, though, thanks to all sorts of rules and tariffs and such, and a recent move between PayPal and the Federation of Indian Export Organizations (FIEO) is looking to help smooth out the rough spots.
The team-up, reports suggest, is seeing PayPal work to get not only technology, but also relevant experience into Indian small business hands, thanks to a slate of seminars and sponsored programs. Specifically targeted will be the smallest of businesses, including “…cottage industries, artisans, housewives, youths, MSMEs (micro, small, and medium enterprises), and clusters, even in far-flung areas, to develop their orientation toward exports,” noted the FIEO’s CEO and director-general Ajay Sahal.
This isn’t the first time PayPal has stepped up operations in the region; it launched an Innovation Lab in the region, and joined a horde of fintech companies making their way to the country following the demonetization of large amounts of India’s paper currency.
However, this is a big step forward. It’s reasonable enough to see why there’s the interest; get people using PayPal during training sessions for exporting goods, and it’s a safe bet they’ll stick with that platform because they already know how to use it. Granted, it’s not immediately clear just how much worthwhile product those various small firms can send out, but if anyone’s got anything worthwhile to offer, it will likely find a market. With PayPal still smarting over the upcoming loss of eBay business, it can likely move a lot of that talent into ultra-small business exporting in India, and maybe even beyond.
This could be a big step for PayPal, and it’s worth noting for the sheer level of diversification involved. PayPal’s been making a lot of different moves in the field, and branching out this much just shows that PayPal’s ready to continue being a big part of the mobile payments field, and beyond.