US-based fintech firm Payoneer opens tech hub in India, boosts hiring

By Sai Ishwarbharath ‌B

July 13 (Reuters) - Nasdaq-listed ​fintech ​firm Payoneer Global plans to hire around 300 engineers by end of 2026 for ‌its new global capability centre in India, joining ⁠a growing list of companies tapping into the world's most populous ‌country to fulfill their ‌talent needs.

Global firms including Mastercard, PayPal and Revolut are relying on their India centres for product development, ​payment processing and expanding AI capabilities. Industry consultant ANSR had estimated revenue from India's global capability centres ⁠would grow 12% to $84 billion in 2026.

Payoneer, which is a cross-border platform ​to send and receive payments, plans to hire AI and platform engineers, with the new ​facility at Gurugram near Delhi ‌becoming its second-largest tech and R&D centre globally, Gaurav Gupta, India site leader, said ⁠on Friday.

"India has an amazing talent pool for people who have experience in building financial technologies at a very large-scale (with) ⁠deep-tech expertise. So our key reason to come to India is ​to tap into the talent density," Gupta said.

The company has an office in Bengaluru that handles sales functions for the domestic ‌market with around 400 employees.

Last month, Canadian fintech Nuvei announced plans to buy ‌Payoneer for about $2.75 billion, subject to regulatory approvals. Gupta ⁠said the proposed acquisition ‌would not impact the ​India GCC or local business operations.

(Reporting by Sai Ishwarbharath B in Bengaluru; Editing by Mrigank ‌Dhaniwala)

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