PayPal to establish tech development facility in India

PayPal to establish tech development facility in India

PayPal, the online payments business of electronic auction house eBay, is setting up a technology development centre in India that will employ hundreds of professionals in 2007.

According to press reports, PayPal is planning to open the new development centre in the southern city of Chennai.

The firm plans to hire "hundreds of professionals" for product development, software engineering and other functions.

Financial details of the investment were not disclosed.

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