Indian payments startup Trupay has partnered with payments giant PayPal to enable its customers to accept and make international payments.
Under the terms of the agreement, PayPal will use Trupay for its inward payments in India.
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Trupay co-founder Vivek Lohcheb said: "With this partnership Trupay aims to be the one stop shop for all payments requirements for its online and offline merchants. Currently most merchants do not have a payment mechanism for any sales done overseas. Banks only cater to B2B payments for large corporate using letter of credit and other mechanisms for cross border payments.
"With this partnership Trupay also seeks to leverage the global best practices and risk management systems of PayPal,” he added.
Trupay has recently gone live with 21 banks and has also integrated with some of the mutual funds, insurance and securities brokerages to provide UPI based real-time payments.
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By GlobalData
