PayPal has launched two of its Technology Innovation Labs in India to support developments specific to new age technology. Located at its Chennai and Bengaluru tech centres, the labs are first by the Palo Alto, California-based company on India’s ground and the third after the US and Singapore.
“India is a hotbed for technology innovation given its evolving startup ecosystem, diverse merchant profiles and enormous talent pool,” said Mike Todasco, director of innovation, PayPal. “To cater to their needs in the most effective manner, we are delighted to announce the launch of our newest Technology Innovation Labs 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.”
Being targeted at the new age technology developments, PayPal’s Technology Innovation Labs will support diverse fields including machine learning, artificial intelligence, data science, Internet of Things, penetration testing, software-defined radios and wireless communication, virtual and augmented reality, computer vision and basic robotics. The company will provide equipment like Raspberry Pi with a sensor kit, AlphaBot kit, Amazon Echo, LeapMotion and 3D printers among others.
“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 centres in India,” said Guru Bhat, general manager — technology and head of engineering, PayPal.
Focusing largely at startups and entrepreneurs
In addition to providing relevant hardware to begin with the innovative developments, PayPal is set to integrate its native incubation centre. Called the PayPal Incubator, the centre was launched back in 2013 with an aim to support India-origin startups.
Developers and entrepreneurs are likely to leverage the developments driven by PayPal to ramp up their innovations in the country. Additionally, the company would bring more such advancements in the future to leverage the Indian talent in building a fintech behemoth worldwide.