Digital payments giant PayPal has launched two Innovation Labs in Chennai and Bengaluru, after initiating a similar move in Singapore and the United States of America.
“India is a hotbed for innovation given its evolving startup ecosystem, diverse merchant profiles, and enormous talent pool. To cater to their needs in the most effective manner, we are delighted to announce the launch of our newest Innovation Lab in India, where the focus will be on fueling new age technology and giving rise to unconventional ideas with the potential to transform the ecosystem we operate in,” said Mike Todasco, Director of Innovation PayPal.
The facilities provided by Innovation Labs will function as spaces to build, refined and bring advancement in technology.This will ensure in enabling a forum for employees to engage them in ideate across a spectrum of themes with a necessary focus on key areas namely productivity, innovation, and education.
“With over one lakh 45 thousand registered patents between 2013 and 2016 to its credit, India’s innovation potential is enormous and will certainly break benchmarks with the right kind of encouragement,” said Guru Bhat ,General Manager Technology and Head of Engineering, PayPal.
The newly installed labs will actively maintain innovation across varied fields namely machine learning, Artificial Intelligence, data science, Internet of Things, penetration testing, software defined radios and wireless communication, VR/AR, computer vision and basic robotics.
The brand new facility will also ensure a varied range of hardware services and gadgets for experience enrichment of the PayPal employees. Further, the labs will be integrated with some of PayPal’s on the roll initiatives such as the PayPal Incubator.