Established in December 1998 as Confinity, PayPal Holdings, Inc. is a combination of technological innovation and strategic partnerships. PayPal is a worldwide operating American company for online payments system which supports transfers and serves as an electronic alternative to traditional paper methods. It creates better ways to manage and move money and offers choice and flexibility when sending payments, paying or getting paid.
In over a decade of its presence in India, PayPal has been innovating payment methods. The American company has been growing rapidly in India, with 20 percent year on year growth in revenue. Considering its growth prospects in India, the global digital payment giant, PayPal planning to hire more than 600 techies in next 6 months.
PayPal considers India as their key growth market in terms of both business opportunities and talent. With two tech centers in Chennai and Bengaluru, it now looks forward to hiring as many as 600 techies by December in the domains of Artificial Intelligence (AI) and Machine Learning (ML). Paypal will recruit both fresh as well as lateral hires who will be contributing in the areas of AI and ML.
GM of Technology and Head of Engineering at PayPal, who has more than 20 years of experience in the industry said,” “We plan to increase the headcount by 600 in 2018. Some of the job roles that PayPal intends to hire to include application developers- Java, Node JS, back-end developers, data engineers, data experts and product managers.”
He added, “For PayPal, the India centers are key and strategic. This is a great opportunity for us in terms of not just business but also to leverage the great talent that exists here.”
According to the report, PayPal India’s headcount has doubled from 2016 and has 1,700 employees, currently.
Digital payments transforming the way transactions are taking place in India. The government has been crafting and implementing a multitude of policies and regulations and pushing for digitalization. India has seen an upswing in the dependency and utilization of cashless transactions.
The PayPal established its tech centers 12 years back and growing at a large pace. The innovation labs were launched last year (2017) in an effort to up-skill employees and give rise to innovation within the company. These facilities are within the tech centers. PayPal is available in more than 200 markets around the world.
The PayPal platform, including Braintree, Venmo, and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies, as per the company website.