The state Bank of India has partnered with the online payment platform PayPal to enable its customers to use their debit cards on PayPal for buying products from overseas ecommerce websites.
The partnership will also provide financial solutions to SBI’s Micro Small and Medium Enterprise (MSME) customers using PayPal services.
“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,” said B Sriram, MD, State Bank of India.
SBI had also partnered with Amazon to develop frictionless payments, commerce solutions for customers and small businesses and building customer trust.