PayPal ReinforcesCommitment toIndia withExpandedPresence in Hyderabad

PayPal ReinforcesCommitment toIndia withExpandedPresence in Hyderabad

Chennai, INDIA, July23, 2019: PayPal (NASDAQ: PYPL) today announced an expansion of its presence in India with the launch of its thirdglobaltechnology center in Hyderabad. The expansion follows the acquisition of fraud prevention platform Simility in 2018. The centre will be led by Swastik Bihani who brings with him a wealth of experience in product and engineering. 

The Hyderabad center will focus on leveraging PayPal’s extensive expertisein data science, risk management and machine learning to empower small and medium-sized businesses to identify and protect themselves from fraud. The center will play a critical role in advancing the goals of the Indian Government and Reserve Bank of India toincrease digitization of India by enabling these new-age businesses to adopt digital payments in a safe and secure manner. 
“PayPal’s expansion in Hyderabad is a testament to the growth of the city as a global hub for multinational corporationsand Indian startups,” said Tushar Shah, SVP, Enterprise Platform and Seller Risk, PayPal. “Through this expansion, we’re investing not only in the world class Indian technology talent, but also in continuing to strengthen how we support and grow our global customer base.”

In less than a decade, Hyderabad has become a significant hub for digital economy, pharmaceutical, and biotechnology companies. State government efforts like setting up of the T-Hub and the T-Bridge have played a crucial role in pushing innovation, enabling the startup ecosystem and giving early-stage companies a platform through which to partner across geographies.

“We are in the business of building trust, it is the foundation for us in India and across the globe,” saidGuru Bhat, VP and Head Engineering, PayPal India. “India is a key growth market for PayPal and the opening of our global technology center in Hyderabad, the heart of innovation and technology in India, marks a significant milestone on our journey.”

The Hyderabad location will be PayPal’s third technology center in India after Chennai and Bangalore and will house approximately 100 engineers across roles including risk management and operationsto provide cutting-edge digital payments solutions to customers around the world. The India technology centers are the largest for PayPal outside of the U.S. and work on technologies ranging from AI/ML to blockchain in an effort to constantly remain ahead of the curve when it comes to money movement and management.