Enable the RHSCL (Red Hat Software Collections) repository with subscription-manager
subscription-manager repos --enable rhel-server-rhscl-7-rpms
Install Python and PIP
yum install python27 python27-python-pip
Create profile file for auto execute the scl_source script
$> cat /etc/profile.d/enable-python27.sh
#!/bin/bash
source scl_source enable python27
More informations about RHSCL : https://access.redhat.com/solutions/472793