SBI's pact with PayPal to help SMEs do safe, secured transactions
Updated: May 21, 2015 02:53:37pm
Managing Director and Group Executive (national banking) B Sriram said the pact will help the bank’s nine lakh SME customers to do safe and secured transactions.
The MoU aims at facilitating cross- border transactions after which domestic payments would be covered, he said.
Subsequently, SBI would look into e-governance areas like e-visas, e-travel documents, he said.
The facility would also be available to SBI debit card holders.
PayPal has presence in 203 countries and processes 11.5 million transactions every day.
Later, the company would also look at the e-commerce and m-commerce space in India, he said. (KNN Bureau)