Attention! All the budding engineers, who have always dreamt of working with a top-notch MNC, here is your chance! The global leader in digital payments PayPal, which has always proved its commitment to India in several ways, is all set to hire almost 600 techies in India by the end of December this year. As of now, the recruits will mostly be working in the Artificial intelligence (AI) and machine learning (ML) domains. To expand their scope in the above fields, the company would be recruiting application developers (like Java, Node JS and back-end developers), data engineers, data management experts and product managers.
For the readers who’re aloof, PayPal, which is available in 200 markets around the globe, has already established its centres in India at Chennai and Bengaluru. Moreover, the number of employees in these centres has already escalated to 1,700 – almost double to what it was in 2016.
An interesting point to note here is that although the PayPal’s tech offices have been in India for around 12 years now, they have recently begun investing in the skilling and training of their employees with many different types of initiatives. On the positive side, this activity has been enhancing their experience as well.
For instance, they launched their innovation labs just a year before, in 2017. The main focus of these labs is to upskill employees and to promote innovation within the company.
This American digital payment company has been spreading its roots expeditiously in India, with 20% year on year growth in revenue. Hence, owing to its growing user base and profits in India, it considers India as a significant and strategic market in terms of both business opportunities and talent. As part of its recruiting plan, PayPal will hire both fresh as well as lateral hires in the areas of AI and ML.
In the era of digitalization, India is growing at an exponential rate, and the digital payments space is very exciting at present. With the government favouring many new digital initiatives completely, PayPal has an outstanding chance to add more value to its client base.
Guru Bhat, the GM and the Engineering Head of PayPal, feels that India offers innumerable opportunities to PayPal. In the upcoming five years, PayPal targets to occupy a much greater share than existing leaders in India such as PhonePe, Paytm, and Amazon Pay.
The US-based company currently has a market capitalization of $88 billion. Furthermore, the company is dedicatedly working on localizing its technology to enhance its consumer base in our country.
If we take a glance at the competitors of PayPal, we find strong and robust competitors. First is Paytm, which is one of the leaders in the digital payments space in India. It claims that it is the largest contributor to the overall number of UPI transactions in the country. Second is Google Tezz, which claims of recording over 250 million transactions since its launch in the middle of September 2017. Then there is Flipkart-owned PhonePe, which claims to have recorded 42.4 million transactions. These are, however, only a few renowned names; There are Mobikwik, AmazonPay, JioMoney and a hundred more in the list.
A recent Credit Suis report estimates that India’s digital payments industry would grow five times over and would reach $1 trillion worth by the year 2023.
PayPal is focused on becoming the trailblazer in the digital payments industry in India. With hundreds of competitors, PayPal chooses to prove its mettle and continues efforts in the direction of expanding its horizon. Who would be the winner? Only time can tell!