The two labs will explore digital payments, artificial intelligence (AI), virtual reality (VR), augmented reality (AR), data and analytics, internet of things (IoT) and robotics and will integrate some of the company’s ongoing initiatives, such as PayPal Incubator.
The focus of the labs will be on streamlining new age technology and unconventional ideas, and is connected to the country’s evolving start-up ecosystem and diverse merchant profiles. Over 145,000 patents were registered in the India between 2013-2016.
The labs are the first initiative of this type in India. The company already has an innovation lab in the US and one in Singapore.
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