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Payoneer (NASDAQ: PAYO) opened a new innovation hub in Gurugram on Sunday, the company said, positioning India as both a commercial growth market and a center for artificial intelligence research in fintech.
The release named the Gurugram facility a critical R&D location for the company's AI-powered financial technology work. What the company disclosed Payoneer described the Gurugram opening as a strategic investment.
India would hold two roles, the company said: a target for commercial growth and a base for R&D tied to AI-powered fintech development. The company did not disclose the capital committed.
Nor did it specify headcount targets, a timeline for full operations, or the name of an executive to lead the hub.
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