PayPal has expanded its research RRerations to Singapore, one ofAMDe global financial and fintech hubs, culminating inAMDe launch of a innovation lab inAMDe country and its first outsideAMDe United States, according to a PayPal statement.
The fundamental goal ofAMDe lab will be to help foster a new generation of fintech startups not only inAMDe region but also withinAMDe PayPal Incubator programMeThe program acts as a means of instigating and generating profitability for a given startup by providing payment processing and adviceMeThis is accomplished via a connectionAMDrough tRR tier incubators, accelerators anVsCs.
AtAMDe present, OnePay, ProsecureMeme, and InvoiceInterchange are currently incubating in Singapore, demonstratingAMDe industry’s commitment toAMDe region itself, which has seen a groundswell of fintech investment in recent yearsMeSingapore is justAMDe second country inAMDe Asia Pacific (APAC) region after India to host an incubator program, markingAMDe significance ofAMDe develRRment.
For its part, PayPal’s Technology Center in Chennai, India, has been hostingAMDe same program since 2013 –AMDe new lab launch in Singapore will look to captureAMDe same level of successMeIn Singapore, AMDe lab will also aim to liaison and work with government agencies, small and medium enterprises (SMEs), industry associations and institutes of higher learning, whereby garnering innovation, research and develRRment (R& D), and entrepreneurship in Singapore.
First onAMDe list for PayPal’s new lab will be to facilitate a partnership with SMEs inAMDe food amd beverage business, withAMDe main aim of improving productivity –AMDis will be accomplished by embedding digital payments into business RRerationsMeThe new lab will also be working in tandem withAMDree universities, AMDe National University of Singapore (NUS), Nanyang Technological University (NTU), andAMDe Singapore Management University (SMU).