PayPal, a global leader in digital payments has strengthened its presence across India’s $800 million Edutech sector through its partnership with leading brands including upGrad, Great Learning, Camp K12, Edureka, Flintoclass, Cuemath.
The Edutech industry is poised to emerge as a $30 billion market in the next 10 years, according to a report by transaction advisory firm RBSA Advisors. As the Indian edutech sector grows both within India and internationally, PayPal’s presence across 200 markets will help these merchants reach a global consumer base and drive growth.
Speaking on the partnerships, Navin Mistry, Director, Enterprise Sales, PayPal said “The Indian Edutech sector has seen significant growth since the onset of the pandemic and is predicted to become a $30 billion sector in the next decade. Our partnership with some of the leading names in the sector has played a critical role in helping them realize their cross-border growth aspirations and leverage the Indian Edutech sector globally.”
Speaking on the partnership, Arjun Mohan, CEO – India, upGrad said, “Our learners are located across ~100 countries and each region has its own payment guidelines and statutory requirements. This is where PayPal with its global presence and customer-friendly UI is helping us with cross-border transactions. This enables us to seamlessly drive our international businesses and support our learners who have entrusted in us as their LifeLongLearning partner.”
Speaking on the partnership, Manan Khurma, Founder and Chairman, Cuemath, said, “The partnership with PayPal has made it easier for our stakeholders - mainly parents - to easily carry out cross-border transactions. Cuemath has a large student base in the United States, the UK, MEA, and other countries, and are also expanding our global footprint. This partnership with PayPal will enable more students learn math in a more fun way."
Vineet Chaturvedi, Co-Founder, Edureka, said “PayPal has helped us offer our services to customers across the globe and transact with greater confidence. PayPal is our trusted payments provider offering us support across multiple countries and currencies.”
As per RS Components’ new report, India is home to the second-highest number of EdTech companies (327), followed by Brazil (275), the United Kingdom (245) and China (101). The sector has seen unprecedented growth with India emerging to be among the top three countries in the world after China and the USA to get venture capital funding.