View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
  2. Company news
May 22, 2015

SBI partners with PayPal for cross-border payments

State Bank of India (SBI) has teamed up with digital payments firm PayPal to allow its customers to use their debit cards for buying products from overseas websites.

By Verdict Staff

State Bank of India (SBI) has teamed up with digital payments firm PayPal to allow its customers to use their debit cards for buying products from overseas websites.

The partnership aims to facilitate cross-border transactions and domestic payments as well as offer financial solutions to the merchants using PayPal services. It will also enable the bank’s micro small and medium enterprise (MSME) customers to access overseas markets using PayPal’s secure digital payment solutions.

Additionally, both the companies will set up a joint co-ordination committee to execute and exapand the partnership.

SBI managing director B Sriram said: "It provides a perfect opportunity to both of us to collaborate and offer a wide gamut of customized financial solutions to merchants across the board. This would bring new opportunities for our SME customer base."

PayPal managing director and country manager (India) Vikram Narayan said: "PayPal has a strong role to play in the ‘Make in India’ initiative. Collaborating with us gives SBI’s customers global access to businesses and consumers alike."

Meantime, SBI has partnered with Snapdeal to offer credit to sellers registered on the e-commerce portal at easier interest rates. The bank has also joined hands with Amazon for providing payment and commerce solutions.

  1. News
  2. Company news
May 22, 2015updated 04 Apr 2017 4:02pm

SBI partners with PayPal for cross-border payments

State Bank of India (SBI) has teamed up with digital payments firm PayPal to allow its customers to use their debit cards for buying products from overseas websites.

By Verdict Staff

State Bank of India (SBI) has teamed up with digital payments firm PayPal to allow its customers to use their debit cards for buying products from overseas websites.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

The partnership aims to facilitate cross-border transactions and domestic payments as well as offer financial solutions to the merchants using PayPal services. It will also enable the bank’s micro small and medium enterprise (MSME) customers to access overseas markets using PayPal’s secure digital payment solutions.

Additionally, both the companies will set up a joint co-ordination committee to execute and exapand the partnership.

SBI managing director B Sriram said: "It provides a perfect opportunity to both of us to collaborate and offer a wide gamut of customized financial solutions to merchants across the board. This would bring new opportunities for our SME customer base."

PayPal managing director and country manager (India) Vikram Narayan said: "PayPal has a strong role to play in the ‘Make in India’ initiative. Collaborating with us gives SBI’s customers global access to businesses and consumers alike."

Meantime, SBI has partnered with Snapdeal to offer credit to sellers registered on the e-commerce portal at easier interest rates. The bank has also joined hands with Amazon for providing payment and commerce solutions.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International