- Offers Indian consumers a global payments experience
- Reiterates commitment towards enabling a safer payments experience
May 2, 2019 Mumbai:
PayPal India, today, launched its popular OneTouch experience in India using Google Smart Lock. This allows Indian
consumers to register their Android device with PayPal and enables them to stay logged into the platform
for all subsequent PayPal purchases on that device. The feature now removes the hassle of
repeatedly needing to log in and thereby offering a frictionless payments
experience. Consumers once logged in will still need to go through the 2FA
step to complete the transaction as per applicable regulations.
With One
Touch, consumers will no longer have to retrieve their credit and debit card
details to make purchases on their smartphones. The integration with Google
Smart Lock will enable greater convenience while maintaining security, by keeping
their phones or tablets locked when it is not with them and thereby reducing
the possibility of fraud.
Speaking at
the launch, Narsi Subramanian, Director,
Growth, PayPal India stated, “As payment systems evolve, it is essential
for the platforms to simplify the process and render better user experiences
for consumers while paying online. At the same time, it is critical that customers feel
secure in making their transactions as well.
The One Touch feature along with Google Smart Lock addresses
both of the above and aligns with our vision of offering a frictionless
payments experience.”
India will be
the first market where the feature will be integrated Google Smart
Lock. Additionally, PayPal’s Buyer Protection feature will provide
another layer of safety to this feature for eligible transactions. If items
purchased online do not match the description of the product that was sold to
the consumer, PayPal’s Buyer Protection feature enables them to claim a refund
for eligible transactions.
Quote from Kishore Konakanchi, Head of Product & Engineering,
PayPal India, said “Our vision in India is to enable a convenient and safe payments
experience for merchants and consumers. When consumers link their Google and
PayPal accounts, it eliminates the need to re-enter passwords and thereby
offering a faster check-out experience. Managing risk is PayPal’s secret sauce
which has defined success for us across 200 markets over two decades.
PayPal
connects a global network of buyers and sellers on its open payment’s
platform. The company’s global reach and scale enables PayPal to have powerful
insights into the online and mobile requirements of digital consumers and
businesses around the globe.
The Indian
government’s recent push towards digital payments has also led PayPal to
partner with Government and state-owned banks on a number of initiatives
including digital financial literacy programme and eTourist Visa (eTV).
About PayPal
Fueled by a fundamental belief that having access to financial
services creates opportunity, PayPal Holdings, Inc. (NASDAQ: PYPL)
is committed to democratizing financial services and empowering people and
businesses to join and thrive in the global economy. Our open digital payments
platform gives PayPal’s 277 million active account holders the confidence to
connect and transact in new and powerful ways, whether they are online, on a
mobile device, in an app, or in person. Through a combination of technological
innovation and strategic partnerships, PayPal creates better ways
to manage and move money, and offers choice and flexibility when
sending payments, paying or getting paid. Available in more than 200
markets around the world, the PayPal platform, including Braintree, Venmo, Xoom
and iZettle, enables consumers and merchants to receive money in more than 100
currencies, withdraw funds in 56 currencies and hold balances in their PayPal
accounts in 25 currencies. For more information on PayPal, visit https://www.paypal.com/about. For PayPal Holdings, Inc.
financial information, visit https://investor.paypal-corp.com.
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