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The U.S. online payments giant is expanding the Singapore-based workforce by 25 percent to support the region’s growing demand for digital solutions.
Some 150 job openings are on offer at PayPal’s its international headquarters in Singapore, under the Infocomm Media Development Authority of Singapore’s TechSkills Accelerator (TeSA) program and supported by Digital Industry Singapore (DISG), according to an announcement on Tuesday.
PayPal said it will provide opportunities over the next three years for Singaporeans in areas such as product management, software engineering, cybersecurity, and data science, according to a statement.
The new hires will work on projects that cover SME digitalization, PayPal’s e-wallet and commerce platform, as well as risk, compliance, trust and security, the announcement said.
Singapore is a strategic market for the online payments platform, and is home to the only international PayPal Innovation Lab, which has contributed to over 140 patents.
PayPal is determined to support Singapore’s continued digital transformation into a global technology and fintech hub, Aaron Wong, chief executive officer of PayPal Pte Ltd, said.
According to the company’s recent earnings report, PayPal processed a total payment volume of $311 billion during in second quarter of 2021, up 36 percent year-on-year. There are 403 million active accounts, including 32 million merchant accounts, on the platform.
PayPal operates in over 200 markets, with 44 percent of active accounts located outside of the United States.
Earlier this week, PayPal announced the first international roll-out of its crypto product that first launched in the U.S. in October last year, which lets customers buy or sell bitcoin, bitcoin cash, ethereum or litecoin. It said it hopes to open this functionality to other global markets in the coming years.
