PayPal today launched two Technology Innovation Labs in Chennai and Bengaluru. This is the first Innovation Lab by PayPal in India and the third after US and Singapore. These labs will actively support technology innovation across diverse fields including machine learning, Artificial Intelligence, data science, IoT, penetration testing, software defined radios and wireless communication, VR/AR, computer vision and basic robotics.
The facility will also house a diverse range of hardware and gadgets for the company employees to experience and tinker with such as Raspberry Pi with full sensor kit, AlphaBot kit, IoT kit, Amazon Echo, Leap Motion, 3D printer and more.
“These labs are built with a focus on three core areas – productivity, innovation, and education and will serve as a platform to promote innovation which is a core value for PayPal globally. The ultimate aim is to build and refine new and advanced technologies and to create a forum for employees to engage and ideate across a spectrum of themes.”, said the company.
PayPal said that labs will also be integrated with some of its on-going initiatives such as the PayPal Incubator, launched in 2013, with the objective of developing and nurturing the next generation of fintech startups.
Mike Todasco, Director of Innovation, PayPal, said:
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.
Guru Bhat, GM Technology & Head of Engineering – PayPal, said:
With over 145K registered patents between 2013-16 to its credit, India’s innovation potential is enormous and will certainly break benchmarks with the right kind of encouragement. 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 centers in India.