Paypal is possibly the biggest revolution of the digital age and agree or not it’s PayPal was possibly the first name which used to strike when it was about ‘International Payments’. PayPal for me stands for convenient, free and fully secure services.
In conversation with Dhruv Sawhney (General Manager, Bangalore Technology, PayPal India) here’s what I found out
Paypal currently holds 203 countries and over 100+ currencies globally. With more than 169 million active customers around the globe and 7 million merchants, PayPal recently did 4 billion transactions last year! Which is something really huge because, in a bigger picture, PayPal is everywhere and acting as a catalyst to solve global money transfer issues. Surprisingly 1 billion of these were from mobile payments which also indicates a major shift towards the current taste of users. Growth estimation remains around 68% year-on-year, which is simply wow! While the conversation here are few pointers, which I found were important and should be covered.
10% of entire workforce is here in India
Yes, you heard it right. 10% of the entire global Paypal workforce comes here from India! Which indicates the growth rate, which PayPal is expanding. Thus, clearly mentions India will be playing a bigger role in not just operations but also will be a very vital aspect of the future of PayPal too. While the conversation, it came out that Global Technology product centers in Chennai and Bangalore, which employs over 1300 highly skilled technologists! That means query-handling, bugs, and issues will be fixed in no time! So our PayPal just better!
“As one of the world’s largest start-ups, PayPal is committed to the development of a technology ecosystem, and giving back to the community. We actively partner and provide technology mentorship to startups, developers, universities and local communities to share, enable and drive innovation” as told by Mr Dhruv clearly indicates that PayPal has surely has set some huge future goals partnering with India. A friendly environment, giving back to the community all signs indicate towards PayPal continuous progress and decision.
Also, the payment firm has formally now separated from it’s parent company eBay now. PayPal has been valued at almost $50bn after formally splitting from eBay and relisting on NASDAQ. I wish PayPal a great smashing success in the upcoming future and it’s strong relation building with India.