OYO Rooms, one of India's largest networks of hotels, announced Tuesday its tie-up with PayPal, a leading global player in the open digital payments market, in order to enable its customers globally to pay for their bookings in Malaysia and other Southeast Asian countries.
"Growth of new age businesses like OYO Rooms can be further accelerated if they are protected against online payment risks and frauds," Hamish Moline, vice president, regional merchant services of PayPal Asia Pacific and China (APAC), said in a media release.
The Indian e-commerce sector is at a very crucial stage where it is growing at an exponential rate. However, this rapid pace also comes with its baggage of increased risk, Moline added.
"PayPal's technology protects merchants such as OYO Rooms against unauthorised transactions and mitigates associated risks," Moline said.
OYO Rooms was a disruption to the traditional legacy model which the hospitality industry was following, thereby creating new opportunities for itself.
"This tie-up with PayPal will assist us in delivering a seamless payment experience through reduced friction during payment process," Abhinav Sinha, chief operating officer at OYO Rooms, said in a press release. PayPal's position as a global leader in payments will be a major boost in enabling OYO Rooms to grow and strengthen its market, Sinha said.
OYO Rooms recently started operations in Malaysia.
PayPal said it has a global network of 179 million customers spread across 203 countries.
