On Thursday, October 12th, PayPal President and CEO, Dan Schulman, participated in a State of FinTech discussion, hosted by PayPal on Capitol Hill. Chris Brummer, professor at Georgetown University Law Center facilitated the discussion by engaging Dan with questions on how he views the development of FinTech.
The audience of about 50 individuals, included congressional staff, association members, industry professionals, academia and PayPal merchants.
Chris began the discussion by asking Dan how he sees the FinTech industry evolving and developing over the next few years. Dan described the ever-changing landscape of financial technology and how PayPal is using technology and innovation to improve the financial health of consumers and businesses around the globe. He also described efforts by governments in other countries to digitize money and grow their digital economy, especially through mobile.
Dan also highlighted PayPal’s mission to democratize money for individuals and consumers, citing PayPal Working Capital as an example of a product benefiting an underserved sector of the population by providing financing to entrepreneurs who can’t access it elsewhere.
Finally, Dan mentioned how the private and public sectors can work together to continue innovating and creating solutions for lifting people out of poverty.
The State of FinTech event demonstrated PayPal’s continued thought leadership in the FinTech industry and commitment to working with policymakers on encouraging innovation and financial inclusion globally.