PayPal has seen the future, and apparently it lies out East. The eBay company has just announced plans to double its presence in the Asian-Pacific region by the end of 2010, and made a couple of other, separate announcements to underscore its focus on Asia.
At PayPal’s new international headquarters in Suntec City, Singapore’s technology hub in the middle of the nation’s central business district, the company said that it plans to double the number of employees in Asia Pacific from 1,000 currently to more than 2,000 by the end of the year.
The company plans to add more than 100 new jobs at its international headquarters in Singapore alone, as it represents all of the company’s business outside of the United States.
New jobs will be located at all seven offices in the region including Australia, China, Hong Kong, India, Japan, Singapore and Taiwan. For its Singapore business headquarters and development center, PayPal will be recruiting Singapore-based professionals with expertise in technology, product development, infrastructure design, risk and engineering.
PayPal says it has processed more than $6 billion of total payment volume (at spot rate) 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 partnerships with Asian companies including this morning’s announcements today with DBS, Singapore’s largest bank, and China UnionPay, China’s bank card association (more about the latter deal over at BusinessWeek).
As part of PayPal’s plans to help grow the e-commerce ecosystem across Asia Pacific, the company also announced that the PayPal mobile payment software development kit (SDK) will be made available to developers in the region. That way, developers can add a checkout button to accept mobile payments without the need to collect financial information from customers with just a few lines of code.
The mobile SDK, which will initially support iPhone app development, will be available in the second quarter of 2010 to developers in the region.
by Robin Wauters