PAYPAL is set to announce the creation of 1,000 new jobs within the next two weeks.
The US electronic payments company is to open a number of new call centres, possibly at locations around Ireland.
The jobs boost will be welcomed as a sign that our economy is still a viable place to invest for multinational firms.
Paypal, which is owned by eBay, will be looking for call centre workers with English and other languages to help customers with their accounts.
The exact details of the jobs announcement are understood to be still subject to the negotiations between the company and officials from the Department of Enterprise.
It is not clear where the new jobs will be located but there is a possibility that they will be split between locations like Dublin, Dundalk and Limerick.
San Francisco-based PayPal already employs 1,500 people at its European headquarters in Blanchardstown in Dublin.
Sources yesterday confirmed newspaper reports that PayPal is now close to clinching a deal with the IDA for further expansion. The announcement could be made late this week.
Paypal's plans come hot on the heels of a Sky Television announcement that it intends to create 800 jobs in a call centre in Dublin while IDA-back companies have announced a further 700 jobs from companies planning to open or expand operations in Cork, Kildare, Galway, Sligo, Kilkenny and Dublin.
The 14-year-old company has 123m customers and is a global leader in online payment solutions. It is now trying to move into shops to compete directly against companies such as Visa and Mastercard.
Mastercard said last week that it would bulk up its European headquarters to 200 from the existing 70 people presently employed in Dublin.
PayPal's Dublin operation employed more than 1,240 people at the end of 2010 and had a salary and welfare bill of €59m which suggests an average salary of €47,580 including PRSI and other payroll taxes.