PayPal refreshes its Singapore Innovation Lab with tech offerings
It has a facial recognition system to register guests to its in-house Augmented Reality-supported bar.
PayPal revamped its first Innovation Lab outside the US, which was established in Singapore in 2016. The lab has been equipped with a co-working space, a private meeting room, and two sitting areas that can be transformed to accommodate varying group sizes for various activities. It also now includes a bar supported by Augmented Reality (AR) technology.
Here, PayPal has worked with SMEs including Tee-Saurus, Edible Garden City and Singapore Repertory Theatre in addressing business challenges, Paypal’s head of Singapore Development Centre Jerry Tso told Singapore Business Review. It has also collaborated with startups like InvoiceInterchange, Tenx and PolicyPal by offering a co-working space, market access, curriculum with fintech experts, access to investors and guidance in developing proof of concepts (POCs). Its R&D team has also developed 12 POCs and eight patents.
It also serves as a core research centre for PayPal where it develops fintech research talents, creates IPs and collaborates with institutes of higher learning.
The firm holds various programmes for students interested in pursuing a tech career. Recently, the lab was refreshed to show the myriad ways to incorporate technological innovations in commerce.