PayPal and FIEO Tie Up To Empower Indian SMEs in International Trade
Indian mainstream media reports that PayPal and FIEO have agreed on a deal that will enable SMEs of the country sell without any fear globally.
Globally operating payments service provider PayPal and India’s Federation of Indian Export Organisations, popularly known as FIEO, have signed a deal under which all small and medium enterprises will be empowered to sell across the whole world in a safe and smooth manner.
Memorandum of understanding (MoU) signed by both PayPal and FIEO contains terms of educating SMEs of India on how to explore and take maximum advantages from global market opportunities and receive payments from international buyers on a timely basis. The MoU also mentions providing PayPal invoicing to the SMEs.
Speaking to media reporters, Dr. Ajay Sahai, Director General, and CEO of Federation of Indian Export Organisations said that this kind of agreement will enable FIEO to develop an orientation towards exports among cottage industries, artisans, house-wives, youths, MSMEs, clusters, and even in remote areas,”.
The chief focus of this MoU between PayPal and FIEO will be providing essential training to Indian small and medium businesses about various aspects of exports and in addition, they will be helped gain familiarity with the global growth opportunities, said PayPal India’s Country Manager and Managing Director, Anupam Pahuja.
Vice President of PayPal Holdings, Inc, Richard Nash, who also participated at the event, said that they will leave no stone unturned in using the full potential of this partnership across India.
PayPal over the years has been very active in launching programs that help entrepreneurs take their trade to international markets and make them believe that it now not only convenient but even safe to send and receive global payments.