How PayPal is enabling Indian MSMEs to go international and the recently launched PayPal Entrepreneur ContestTeam YS
This article is sponsored by PayPal.
When an internal survey at GetMeAShop, a startup e-commerce platform, revealed that 30 per cent of its merchant base wanted to sell internationally, the company decided to partner with PayPal. The e-commerce startup says this move unlocked a vital advantage for its merchants who are now able to sell their products in the international market.
Today, as e-commerce continues to gain ground in India, businesses, especially MSMEs, (micro, small and medium enterprises) are keen to reach out to millions of global customers. Among other factors, PayPal has been a key enabler, given that it is a trusted name worldwide.
In a market analysis, PayPal found that for small businesses, freelancers and entrepreneurs, starting up with a payment solutions provider is a major challenge, due to complicated registration processes and difficulties in receiving payments and currency convertibility. On the other hand, consumers based in 200 markets worldwide are unfamiliar with Indian banking systems and payment solutions brands.
With PayPal, businesses, entrepreneurs and even freelancers can sign up online without having to go through tedious documentation processes. All they need to do is register on PayPal and link their existing bank accounts to it. Sellers providing services to overseas clients are also protected by their seller protection policy.
This is where PayPal’s solutions are market differentiators. Apart from its primary role, which enables businesses and entrepreneurs to capitalise on international trade opportunities, PayPal has also launched several initiatives to support the start-up community.
Recently, the company launched the PayPal Entrepreneur Contest to acknowledge the effort that goes into building a unique business and celebrate entrepreneurship. The entrepreneur who wins the contest will get to go on an all-expense paid trip to Singapore.
Participate in the contest now. Click here to apply.
The PayPal Entrepreneur Contest is open to all Indian entrepreneurs who have a story to share on how they overcame hurdles and embarked on their entrepreneurial journey. Do note that you need to be a PayPal user to participate in the contest. If you are not a user, all you have to do is sign up with PayPal and participate.
The first stage of the contest is the nomination round, where you can sign up and share your story, or nominate a deserving candidate. Through a voting process, 30 entrepreneurs will be shortlisted, and the top five will advance to the jury round. The chosen five will be interviewed by PayPal’s panellists who will choose a winner. If the person you nominate is chosen as a winner, you also get to travel along with that entrepreneur to Singapore.
Participate in the PayPal Entrepreneur Contest today. Last date for nomination is February 6, 2017. Click here to apply.