PayPal to double presence in Asia by end of 2010
By SearchSMBAsia Editors | Mar 18, 2010
PayPal plans to double the number of employees in Asia Pacific from 1,000 currently to over 2,000 by the end of the year. The company plans to add more than 100 new jobs at its international headquarters in Singapore.
New jobs will be located at all seven offices in the region including Australia, China, Hong Kong, India, Japan, Singapore and Taiwan. The company is hiring local professionals in technology, customer support, marketing and product management. PayPal plans to grow its Singapore business headquarters and development center with at least 100 new jobs this year. PayPal will be recruiting Singapore-based professionals with expertise in technology, product development, infrastructure design, risk and engineering.
PayPal processed more than $6 billion of total payment volume in Asia Pacific in 2009, an increase of 38 percent from 2008. Since its establishment in the region in 2006, the company has struck dozens of strategic partnerships with Asian companies including announcements today with DBS, Singapore's largest bank, and China UnionPay, China's bankcard association.
"While PayPal's growth in Asia Pacific to date has largely been driven by our cross border business, we fully expect the domestic business in many of our Asian markets to explode in the coming years," said Farhad Irani, Vice President of PayPal Asia Pacific. "Our success in the region will continue to rely on partnering with merchants, financial services companies and local governments to deliver the right services for consumers."
The announcement was made at PayPal's new International headquarters in Suntec City, Singapore's technology hub in the middle of the nation's central business district. PayPal's international headquarters (PPPL) represent all of PayPal's business outside of the USA. Singapore serves as an excellent operational hub for PayPal's International operations due to its economically strategic location, its friendly business environment, political stability and world-class infrastructure.
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