What It Does: PayPal facilitates the digital transfer of funds for its users for an affordable fee. PayPal issues credit card readers to small-scale merchants, debit cards, and lines of credit to its users as well.
Mission: PayPal's mission is to improve the accessibility of financial services so that every individual irrespective of their background or economic status, can have access to convenient, affordable, and secure financial services and take control of their financial lives.
Size and Presence: PayPal India employs about 5,500 workers across its operation centres in Chennai, Hyderabad, and Bengaluru.
Best Known For: PayPal India is one of the top picks for Indian freelancers when it comes to receiving payments. It's best known for being India's most secure digital payment platform. It makes payment convenient; you only need an email address to send money. PayPal is also known for its low transaction charges.
The Good Bits: PayPal India is one of the best companies to work for. The company offers its workers numerous employment benefits. The company has a healthy working environment.
The Not So Good Bits: There is a very high level of competition for limited job openings.
PayPal was founded by Luke Nosek, Peter Thiel, and Mark Levchin in 1998 as Confinity, a security software firm for portable devices. This business model wasn't a commercial success, so the model changed to a digital payment platform. This kicked off in 1999. In 2000, Confinity agreed to a merger with x.com, a firm owned by Elon Musk and three others. Later that year, x.com made PayPal the sole focus of its online banking operations. In 2001, the company was rebranded as PayPal.
In 2002, PayPal made its initial public offering and shares were priced at $13 per unit. The IPO was hugely successful, and the company made $61 million. Soon afterwards, eBay acquired PayPal and made the company one of its subsidiaries. The company was responsible for a quarter of eBay's transactions. In 2005, PayPal acquired VeriSign for added security support and partnered with Mastercard two years later to launch its secure card service.
In 2015, PayPal launched its p2p payment platform, PayPal.me, which allowed its users to request payment through a custom link they can send via emails or other messaging platforms. PayPal came to India in 2012 and began domestic operations in 2017.
PayPal India is recognised by several sources as one of the best companies to work for. The company is transparent in dealing with its staff, stakeholders, and customers. PayPal India is akin to one big family with diverse religious beliefs, perspectives, experiences, genders, sexual orientations, social statuses, educational backgrounds, and ethnic identities but united by a common vision. The company believes in developing its employees to get the best out of them, and such a company culture is really favourable to fresh graduates and interns.
PayPal offers excellent career opportunities to every category of staff it houses; fresh graduates, interns for undergraduates, and experienced professionals. PayPal India provides students and recent graduates a chance to join their ranks through its University Hiring programme. The company also offers internship programmes aimed at the personal and professional development of its interns. There's also a graduate programme consisting of several workshops designed to instil leadership experience and a keen aptitude for business in its fresh graduates.
PayPal India selects applicants from the pool of applications submitted and subjects them to four stages, including:
The average annual pay of a fresh graduate in PayPal India is 2.5 lakhs.
PayPal Dharma collaborated with the SankalpTaru foundation to plant 5,000 native and fruit-bearing tree species in Haryana, Karnataka, Tamil Nadu, and West Bengal.