paypal | Pixr8 News

24Jul By AdityaNo Comments

INDIA

PayPal opens Third Tech Centre in India

Hyderabad, 24 July 2019: Digital payments platform PayPal opened its third global technology centre in Hyderabad. The two other centres are in Chennai and Bengaluru. "The Hyderabad facility would house around 100 engineers across roles, including risk management and operations, to provide cutting-edge digital payments solutions to customers around the world," said Guru Bhat, Vice-President and Head of Engineering, PayPal India, said to Pixr8 News. The expansion follows the acquisition of fraud prevention platform Simility in 2018. The new centre will focus on leveraging PayPal's extensive expertise in data science, risk management and machine learning to empower small and medium-sized businesses to identify and protect themselves from fraud. The Nasdaq-listed firm said the Hyde...

PayPal to invest $500 million in Uber before IPO

29Apr By reutersNo Comments

FUNDING

PayPal to invest $500 million in Uber before IPO

Online payments company PayPal Holdings Inc plans to invest $500 million in Uber Technologies Inc as the ride-hailing firm readies to unveil terms for its initial public offering on Friday, Refinitiv IFR reported. PayPal will invest in Uber through a concurrent private placement at the IPO price, IFR reported on Thursday, citing sources. A financial services component is important to Uber as it works to expand into a "superapp" of logistics and transportation services. Superapps are applications where customers go for a range of services, such as transportation, shopping, and payments. Such companies can be much more lucrative than those that offer just one core business or service. Uber is expected to tell investors it will seek to be valued at between $80 billio...

Paypal First time invested in a Blockchain Startup

6Apr By AdityaNo Comments

FUNDING

Paypal First time invested in a Blockchain Startup

Leading online payment transaction platform PayPal has made its first-ever investment in a blockchain technology company known as Cambridge Blockchain. Cambridge Blockchain helps financial institutions and other companies manage sensitive data using shared ledgers. The company has raised Series A funding. Neither PayPal nor Cambridge Blockchain answer the mail sent by Pixr8 team during the publishing of this article. In a recent filings with the SEC Cambridge Blockchain mention that it has raised $7 million close of its Series A in May of 2018 from HCM Capital, the VC arm of Foxconn, which manufactures the iPhone for Apple, as well as Digital Currency Group. The total capital raised by the Cambridge Blockchain is $10.5 million. The subsequent $3.5 million came from PayPal a...

Top 5 Stories Of The Week (2nd July – 7th July)

7Jul By Gauri SinghNo Comments

Story

PayPal To Employ 600 Techies In AI and ML Domain Soon

The American online payment company Paypal is considering India as a market for increasing growth and therefore, is planning to appoint over 600 techies by the end of this year that is by December, in the machine learning (ML) and artificial intelligence (AI) sector. Paypal is one of the largest online payment services till date that supports online money transfers and serves as an electronic alternative to traditional paper methods like cheques and money orders. "We plan to increase the headcount by 600 in 2018. Some of the job roles that PayPal intends to hire for include application developers- Java, Node JS; back-end developers- data engineers, data experts and product managers," Guru Bhat, GM Technology & Head of Engineering, PayPal said. "For PayPal, the India centres are key...

PayPal Acquires a Fraud Detection Startup For $120 Million

22Jun By Gauri SinghNo Comments

ACQUISITION

PayPal Acquires a Fraud Detection Startup For $120 Million

The online payment service PayPal announced on Thursday that it is in the advanced stage of acquiring Simility which is a leading fraud prevention and risk management platform. The acquisition has been adjudicated at an amount of $120 million in cash. Bill Ready, the chief operating officer of PayPal stated that Simility will assist the company in accelerating its plans and provide its merchants with fraud fighting best-in-class tools. The acquisition will enhance PayPal’s ability to deliver fraud prevention and risk management solutions to merchants and their customers all over the world by helping to reduce fraudulent payment activity and, in some cases, verifying transactions that may have otherwise failed. the company will help to prevent such activities in the process of monitoring...

Paypal Acquires Leading Swedish Online Payments Provider

18May By Sheldan RungasamyNo Comments

ACQUISITION

Paypal Acquires Leading Swedish Online Payments Provider

Paypal, the leading online payments system is ready to make its biggest gamble on point-of-sale transactions, small businesses and markets out of America, as the competition between Square, Stripe and others in the world of payments. Indeed, the online payment giant is set to acquire iZettle – a Sweden-based payments provider that holds the tag of “Square of Europe” for a reported fee of $2.2 billion in cash. The deal is expected to close in the third quarter of this year and iZettle’s co-founder and CEO Jacob de Geer is expected to remain at the head of his company. Other important executives of the company will also keep their roles in the business post-acquisition. With this deal, Paypal announced that they will make the firm become “a center of excellence” for in-store and offline p...

29Mar By Sheldan RungasamyNo Comments

News

BillDesk Looking to Sell For $2 billion

BillDesk, a payments gateway is looking to sell its company as the company’s private equity investors want to leave the company due to an overall growing interest of investing in payments market, according to reports. Those investors include private equity companies TA Associates and General Atlantic and venture capital firm Clearstone Venture and government held Singaporean company Temasek Holdings. BillDesk has already contacted three potential buyers in the name of PayU, American Express and PayPal but refused to sell the company below their asking price, which stands between $1.5-2 billion. A price that none of the above-mentioned companies is ready to meet and all three deals fell through due to valuation disagreements. BillDesk decided to keep operating independently until and unl...

9Nov By reutersNo Comments

News

PayPal Starts Payment Services In India

Payment processor PayPal Holdings Inc on Wednesday launched domestic operations in India, a market already dominated by China’s Alibaba-backed PayTM, the country’s leading digital payments firm. PayPal’s entry in the Indian market comes as a push for cashless transactions by the Narendra Modi-led government is seeing more people use e-wallets and card payments. The online payment industry is pegged to grow tenfold to $500 billion by 2020. “India is transitioning away from our biggest competitor – cash – and our digital platform and technology has immense scope to enable this at scale,” Anupam Pahuja, country manager and managing director, PayPal India said. “For us, the marathon has just begun.” Alphabet Inc’s Google launched a localized payments app for India in September, tryi...

Mobikwik & Freecharge Initiated Merger Talks

25Apr By AnkitaNo Comments

BUSINESS

Mobikwik & Freecharge Initiated Merger Talks

As per the report, India's two leading e-wallet company MobiKwik & Freecharge looking to merge in an all-stock deal. According to speculation, behind this deal a chinese investor who is willing to pump Rs USD 200 million into this deal. The talks between Freecharge and MobiKwik are on their initial stages. Sequoia Capital is the major investor in both startups. Jason Kothari, the CEO of Freecharge is in talks with various investors in the US and China. PayPal had earlier shown interest in investing into Freecharge, but the deal did not materialise. PayU, Flipkart and Paytm is rumoured to be interested in FreeCharge. Freecharge is a part of online shopping platform Snapdeal, which has also been in merger talks with e-tailer Flipkart. MobiKwik, which has opened 13 new offices...

PayPal, Vistarooms Partnership for Online Payment to Hotel Bookings

30Mar By AdityaNo Comments

BUSINESS

PayPal, Vistarooms Partnership for Online Payment to Hotel Bookings

Digital payment firm PayPal has a partnered with Vistarooms.com to enable foreigners travelling to India book hotels in the country. "Vistarooms.com will help us further add to the existing list of travel and tourism partners that includes OYO rooms and Makemytrip. Additionally, our seller protection programme helps merchants safeguard their online services from frauds," PayPal Director for Large Merchants in India Megha Thareja Tyagi said in a statement today. Vistarooms.com has over 1,000 hotels across India, Sri Lanka and Maldives and they will be using the automated invoicing capability of PayPal. "Our partnership with PayPal allows us to provide further payment flexibility to both local and international travellers," Vista Rooms Co-Founder Ankita Sheth said.

Online Payments Firm PayPal Made Policy Changes For Employees in India

7Feb By AnkitaNo Comments

News

Online Payments Firm PayPal Made Policy Changes For Employees in India

Online payments firm PayPal today said it has enhanced the company's caregiving paid leave policies for its employees in India, including more than doubling its current maternity leave from 12 to 26 weeks and doubling its paternity leave from 5 to 10 days. The company has also introduced paid adoption leave of 16 weeks for its women employees, while the paternity policy has been adjusted to include adoption leave within its mandate, PayPal said in a release issued here. The extended caregiving leave policies are effective from January 1, 2017. "We believe that fostering an open, diverse and innovation-driven culture is essential for our employees to be at their creative best. As part of this effort, our extended caregiving policies not only enable women to come back to work after ...