Global payments platform PayPal has appointed Anupam Pahuja as managing director and country manager for India, reports the Economic Times. He will be responsible for all aspects of PayPal’s business in India and for further strengthening the company’s operations here.
Prior to his elevation, Pahuja was the technology head in the Asia-Pacific region at PayPal. He was worked with the company for over six years and was instrumental in establishing their technology centers in India. He worked as managing director for India for NASDAQ-listed SumTotal Systems, before joining PayPal.
Earlier in February, PayPal appointed Guru Bhat as the General Manager of the Chennai Technology Center in India, according this ET report. Guru would be responsible for driving PayPal’s technology strategy in Chennai,
For the quarter ended March 2016, reported a net profit of $365 million, an increase of 43.1% compared to $255 million. The company ended the quarter with more than 184 million active accounts and over 14 million merchant accounts. Total payment volume processed was $81 billion, up 31% year-on-year.
Start Tank programme
In November 2015, PayPal selected four financial technology startups as part of its ‘Start Tank‘ incubation programme in Chennai. PayPal’s Start Tank programme, started in 2013, looks for startups with focus on core payment features such as wallets, gateways and remittances, as well as payments enablers and adjacencies like biometric authentication, security and financial inclusion.