American digital payments company PayPal is reportedly looking to hire more than 1,000 engineers this year for its India development centres located in Chennai, Bengaluru, and Hyderabad.

The new resources will be recruited across product development, software, risk analytics data science, and business analytics streams at entry, mid-level, and senior roles.

PayPal, which employees over 4,500 people at its Indian technology centres, is also eying campus recruitments from top engineering colleges across the country to ramp up hiring.

The news follows PayPal’s announcement last month to shutter its domestic payment services in India from April this year, to focus solely on its cross-border remittance business for SMBs in the Indian export ecosystem.

PayPal India general manager and Omni Channel & Customer Success vice-president Guru Bhat said: “Our India Technology Centres are the largest for PayPal outside of the US and play a pivotal role in enabling us to constantly innovate and remain ahead of the curve.

“As digital payments move from a nice to have to an essential service, we are focused on investing in and nurturing world class technology talent to continue to offer products and services that meet the needs of our growing base of consumers and merchants.”

According to PayPal, its products and services has become more relevant on the aftermath of the Covid-19 pandemic outbreak, making technology innovation in artificial intelligence, machine learning, data science, risk and security, customer experience and other key areas necessary.

In December last year, PayPal was fined INR9.6m ($130,212) by the Financial Intelligence Unit (FIU) of India for failing to comply with anti-money laundering (AML) rules.