JOIN USPayPal, the global leader in online payments, on Wednesday announced the launch of its new technology Innovation Labs in Chennai and Bengaluru.
In a release, PayPal stated the Innovation Labs are first for PayPal in India and third after the US and Singapore. The lab will serve as a platform to promote innovation which is a core value for PayPal globally. Currently, PayPal employs over 1,500 employees at its two locations in India.
Commenting on the development, PayPal Director of Innovation Mike Todasco said India is a hot bed for innovation. “It has an evolving startup ecosystem, diverse merchant profiles and enormous talent pool. To cater to their needs, we are delighted to announce the launch of our newest innovation lab in India,” said Todasco.
Besides focussing on machine learning, artificial intelligence, data science, penetration testing among others, the Innovation Labs will focus on productivity, innovation and education.
The existing India facilities would serve as spaces to build and refine new and advanced technologies and would create a forum for employees to engage. The labs would also be integrated with the on-going initiatives including PayPal Incubator launched in 2013.
The facility will also house a diverse range of hardware and gadgets including Raspberry Pi with full sensor kit, AlphaBot kit, IoT kit, Amazon Echo, AIY kit, Leap motion, 3D printer as well as Proxmark 3 Kit, HackRF One and Ubertooth One for computer security enthusiasts.
PayPal GM Technology & Head of Engineering Guru Bhat said with over one lakh 45 thousand registered patents between 2013-16 to its credit, India’s innovation potential is enormous and will certainly break benchmarks with the right kind of encouragement. .
“Enabling innovation and creating amazing experiences for our customers is at the heart of PayPal’s global success and the Innovation Lab is another step to foster this spirit in our development centers in India,” says Bhat.