PayPal and FIEO Tie Up To Empower Indian SMEs in International Trade

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New Delhi: Paypal and FIEO have tied up in a bid to empower Indian SMEs for international trade.

Indian mainstream media just a while ago {hardly a couple of minutes} have reported that Paypal and FIEO have agreed on a deal to help SMEs {Small Medium Enterprises} of the country to sell their products without any fear globally.

The globally operating payment service provider Paypal and our country’s Federation of Indian Export Organisations, popular as FIEO, have made a deal in which all small, as well as medium enterprises, will be empowered to trade beyond the borders of our country. The purpose is just to boost their empowerment so that they become able to sell across the whole world in a safe and smooth manner.

The MoU {memorandum of understanding} signed by both PayPal and FIEO contains terms for educating Indian small and medium enterprises on how to explore and take maximum advantage from the global market opportunities and receive payments from overseas buyers on a timely basis. It was also found to have been mentioned in the MoU that SMEs would be provided invoices by PayPal as well.

The Director-General and current CEO of Federation of Export Organisations named Dr. Ajay Sahai while speaking to media reporters in the national capital New Delhi said that an agreement of this kind will enable FIEO to develop export-oriented artisans, cottage industries, house-wives, youth, MSMEs, clusters, and even people who live in remote areas in our country.

The chief focus of MoU between PayPal and FIEO will be providing essential training to the Indian small and medium businesses about various aspects of exports, in addition, they will be helped gain familiarity with the global growth opportunities, said PayPal India’s Country Manager and Managing Director, Anupam Pahuja.

The vice president of PayPal Holdings, Inc, named Richard Nash, who also participated in 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.