PayPal to hire over 1,000 engineers in India this year

PayPal had recently announced shutting down domestic business in India.

FILE PHOTO: The PayPal app logo is seen on a mobile phone in this illustration photo, Oct. 16, 2017. REUTERS/Thomas White/File Photo (REUTERS)

Digital payments firm PayPal on Thursday said it would hire over 1,000 engineers for its development centres across Hyderabad, Bengaluru, and Chennai. The company added that the hiring would take place over the course of the year.

The company will recruit talents across categories such as software, product development, data science, risk analytics, and business analytics. It also includes senior, mid-level and entry roles. PayPal further said that it also planned to hire talents from top engineering colleges across India.

PayPal's renewed commitment to the Indian market comes after the company said it would stop offering domestic payment services within India from April. The company added that it would now focus on enabling more international sales for Indian businesses. The company also revealed that it had processed $1.4 billion worth of international sales for more than 3.6 lakh merchants in the country in 2020.

A TechCrunch report points out that PayPal had entered into multiple partnerships in the country over the years. Some of its partners include BookMyShow, MakeMyTrip, and Swiggy. Last year, it said it was working on a payment service based on the UPI platform.

According to PayPal, its India Technology Centres currently have more than 4,500 employees.

“Our India Technology Centers are the largest for PayPal outside of the U.S. and play a pivotal role in enabling us to constantly innovate and remain ahead of the curve. As digital payments move from a nice to have to an essential service, we are focused on investing in and nurturing world-class technology talent to continue to offer products and services that meet the needs of our growing base of consumers and merchants,” said Guru Bhat, VP Omni Channel & Customer Success, GM – PayPal India in a release.

The official release also notes the accelerated shift towards digital payment services due to the Covid-19 pandemic. The company says its products and services are now more relevant for the market. The new hiring is part of its focus on technology-driven solutions for payments and related services.