PayPal, the online payment firm, has now launched its technology innovation laboratories at Chennai and Bengaluru. This lab by PayPal is the first one of its kind in India and the third one after the US and Singapore facilities. The facility will be able to introduce a large range of different hardware and gadgets to the PayPal employees for gaining experience.
Guru Bhat, GM technology and Head of Engineering, claimed that between 2013 to 2016, they have had over one lakh forty-five thousand patents registered with them and they expect the enormous innovation potential of India to set new benchmarks will proper encouragement.
Bhat even said that in response to the challenges posed by Paytm and other wallets, the new age fin-tech start-ups, PayPal needs to innovate faster than ever. The company is thus feeling the need for diversifying its employee pool.
THE MAIN AIM OF THE LABS
Mike Todasco, the director of Innovation PayPal stated that owing to India’s wide talent pool, evolving start-up ecosystem, and range of merchant profiles is the reason why India is an ideal place for innovation. He said that with the Innovation Lab in India, the main focus would lie on harnessing new age technology for transforming the operating ecosystem by the use of unconventional ideas.
These laboratories will also be serving as the spaces for building and refining the new advanced technologies. These will create a forum for the employees to have a discussion on the diverse themes with only three core areas in mind- education, innovation and productivity.
FIELDS OF INNOVATION
Machine learning, data science, penetration testing, artificial intelligence, IoT, VR/AR, basic robotics, computer vision and software defined ratios and wireless communication are some of the diverse fields in which the newly built labs will work on for the innovative techniques.
PayPal incubator, a PayPal’s ongoing initiative, will also be there in the lab along with other such initiatives for developing the next generation of fin-tech start-ups. The laboratory will provide experience to the PayPal employees and it would allow them to test a wide range of gadgets and hardware.
Some of the equipment that has managed to make it to the list are AlphaBot kit, Amazon Echo, Raspberry Pi with full sensor kit, loT kit, Leap Motion, HackRF One, AIY kit, 3D printer, Ubertooth One and even Proxmark 3 kit for the technology lovers.