State Bank of India (SBI), the country's premier bank and PayPal, the world's leading open digital payments company, has entered into a strategic partnership to promote cross-border trade and facilitate payments for SBI and PayPal users both in India and abroad.
The partnership will enable SBI debit card holders to use PayPal when buying products from overseas websites and allow SBI's Micro Small and Medium Enterprise (MSME) customers to gain access to PayPal's secure payment solutions. Essentially, this will provide SBI debit card holders additional options for international spending. The partnership is expected to enrich customer experience and provide them safe and secure payments method through PayPal for buying goods from international merchants who offer PayPal as a payment option. The two would also collaborate on providing innovative financial solutions to the merchants who are using PayPal services.
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