PayPal to help train fintech experts in Singapore
PayPal (PYPL) recently announced a partnership with several technical institutions in Singapore on a financial technology (or fintech) education program. Under the program, PayPal plans to contribute its industry expertise to train close to 2,000 fintech students in the next three years, according to The Straits Times.
The goal of the program is to create a future-ready fintech workforce. Students trained through the program will have internship opportunities at PayPal to gain real-world experience. PayPal hopes that its contribution to the education program will go a long way in addressing small and medium enterprises’ talent needs for digitizing their businesses.
PayPal’s international revenue
Singapore is home to PayPal’s international headquarters. In the fourth quarter, PayPal’s international revenue grew to $2.0 billion. Its 20% YoY (year-over-year) international revenue growth was larger than its average revenue growth of 13% YoY.
International operations accounted for 45.8% of PayPal’s overall revenue last year, and 28% and 60% at Amazon (AMZN) and eBay (EBAY), respectively. Approximately 54% and 51% of Google parent Alphabet’s (GOOGL) and Facebook’s (FB) revenue was international.