- Product development opportunities will support the region’s growing demand for digital solutions.
- PayPal to provide opportunities for Singaporeans in areas such as product management, software engineering, cybersecurity, and data science.
Singapore, 24 August 2021 – PayPal, in partnership with the Infocomm Media Development Authority of Singapore (IMDA) and supported by Digital Industry Singapore (DISG), is growing its Singapore workforce by nearly 25%. PayPal’s expansion will create many new exciting job opportunities for Singaporeans, as the company looks to deliver on its goal of leveraging technology to make financial services and commerce more convenient, affordable, and secure.
Singapore is a strategic market and location for PayPal, and new employees, supported by IMDA’s TechSkills Accelerator (TeSA) Programme, will join PayPal’s diverse local and global team at its Singapore-based international headquarters to collaborate on solutions that serve the company’s more than 400 million consumers and merchants worldwide. Projects include:
- Enabling PayPal solutions to facilitate the digitalisation process for small to medium-sized businesses in Singapore, which encompasses improving business operations and the ability to expand beyond domestic borders.
- Strengthening the PayPal wallet experience for consumers and optimising the PayPal Commerce Platform, a comprehensive solution for businesses with powerful and flexible payment processing capabilities.
- Supporting enterprise-wide projects to enhance risk, compliance, trust and security of PayPal’s platform.
Backed by world-class risk management and compliance teams, PayPal’s product teams work to rapidly deploy products and capabilities that better serve customers. Singapore is also home to the PayPal Innovation Lab, one of only three worldwide and the first outside of the United States. To date, the teams in Singapore have successfully contributed to almost 140 patents in areas including advanced communications security, data science and artificial intelligence.
The Infocomm Media (ICM) sector in Singapore has consistently outperformed its overall Gross Domestic Product (GDP) growth in the past five years. During the COVID-19 pandemic in 2020, it continued to grow by 4.8%, one of the few sectors in Singapore that did so. The sector’s growth in 2020 translated into attractive careers for Singaporeans, with local employment in ICM growing by more than 8,000.
IMDA has identified product development as an area of good tech jobs for Singaporeans, which will support the region’s growing demand for digital solutions. These are technology roles that are responsible for developing a strategy, roadmap and features for products, such as data analysts, program managers and data scientists. Tech talent in these roles help create, build and scale digital products.
“PayPal is determined to support Singapore’s continued digital transformation into a global technology and fintech hub. Our diverse workforce is our biggest competitive advantage, and PayPal’s employees in Singapore have a unique opportunity to participate in projects and initiatives that have an impact in the more than 200 markets in which we operate in,” said Aaron Wong, Chief Executive Officer of PayPal Pte Ltd. “We value the partnership with IMDA and are committed to Singapore’s post-pandemic recovery and economic growth. Singapore’s globalized and agile talent will help further expand the digital economy in the region and beyond.”
“COVID-19 has accelerated the demand for digital services and innovation across the economy. This will generate good jobs for Singaporeans in areas like Product Development. I am glad to see global enterprises, like PayPal, partner with IMDA to train Singaporeans for such jobs. Since Jul 2020, we have created more than 5,500 training and job opportunities with the industry under TeSA. We want to do more through such partnerships with companies.” said Lew Chuen Hong, Chief Executive, IMDA.
JOINTLY ISSUED BY PAYPAL AND THE INFOCOMM MEDIA DEVELOPMENT AUTHORITY (IMDA)
PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make financial services and commerce more convenient, affordable, and secure, the PayPal platform is empowering more than 400 million consumers and merchants in more than 200 markets to join and thrive in the global economy. For more information, visit paypal.com.
About Infocomm Media Development Authority (IMDA)
The Infocomm Media Development Authority (IMDA) leads Singapore’s digital transformation with infocomm media. To do this, IMDA will develop a dynamic digital economy and a cohesive digital society, driven by an exceptional infocomm media (ICM) ecosystem – by developing talent, strengthening business capabilities, and enhancing Singapore's ICM infrastructure. IMDA also regulates the telecommunications and media sectors to safeguard consumer interests while fostering a pro-business environment, and enhances Singapore’s data protection regime through the Personal Data Protection Commission. For more news and information, visit www.imda.gov.sg or follow IMDA on Facebook IMDAsg and Twitter @IMDAsg.
For media clarifications, please contact:
Corporate Communication Manager, Asia-Pacific
Senior Manager, Communications & Marketing
Infocomm Media Development Authority