PayPal to enter Indian education market
Paypal, world’s leading online payment company, aims to enter lucrative Indian online education market. Paypal has already been operating in India in other segments and its clients includes leading names, such as MakeMyTrip, FreshMenu, Goibibo, Domino’s Pizza, etc.
At present, in India approximately two million students pay fees online and this number is expected to increase to 10 million by end 2021. PayPal aims to focus on end-to-end payment management of primary and secondary schools, higher education institutions, and other companies providing different courses to students. Ed-tech market has been on growth trajectory in India and was estimated to be around $0.4 bn in 2017. Further, it is expected to reach close to $1.96 bn by the end of 2021.