GOOD

“New Money” Drives Social Purpose

Let's empower everyone to reach full financial citizenship.

At PayPal, we’re committed to reimagining financial services through technology to make it more affordable, convenient and secure for consumers to manage and move their money. This vision of ‘New Money’ strives to empower full financial citizenship, and create a world in which everyone—individuals, businesses and nonprofitshas access not only to basic financial services, but also the full range of tools and resources they need to thrive.

Leveling the playing field


A recent PayPal survey of consumers and experts in Brazil, India and the U.S. indicates that the majority of consumers around the world feel worried, frustrated or anxious about their financial situation, and 70 percent of people surveyed believe the financial system benefits certain groups over others, is complicated and not affordable for all. This needs to change; we believe high-quality financial services should be a right for all, not just the privilege of a select few. With two massive changes underway in the worldthe digitization of cash and the mass adoption of mobile technologywe’re working to improve the financial health of individuals and businesses around the world by putting the full range of financial services directly into their hands.

Since PayPal’s founding, we’ve set out to build a fair, secure and accessible global payments platform that enables more people to participate fully in the financial system who would otherwise be left behind. Our recent acquisition of Xoom is enabling us to power international remittances to places like Mexico, India, the Philippines and soon to be Cuba, where the process can often be time consuming, expensive and not as secure as it should be. PayPal Working Capital offers the ability for merchants to apply for business loans with flexible payments based on our merchant’s sales with one affordable, fixed fee to help them grow their business more quickly and affordably. Small and medium-sized businesses (SMEs) account for more than half of the world’s GDP and employs two-thirds of the global workforce, yet their number one barrier to growth globally is access to financing. Following the financial crisis in 2008, this challenge was even greater as many local retail banks closed their doors and a willingness to take on high-risk SME loans was minimal. Leveraging new business methods and big data analysis of previous transactions, online business lenders can understand the credit risk of an individual SME and as a result resolve many of the financial barriers faced by SMEs.

PayPal is also driving our vision forward through collaborations with organizations that share similar values and goals for financial citizenship. Through our global expansion of our relationship with Village Capital, we’ll help approximately 40 FinTech social impact start-ups make measurable progress toward increasing financial participation for underserved populations in Latin America, the U.S. and India. And by providing free payment processing to Kiva, a nonprofit organization working with microfinance institutions around the world to provide loans to people without traditional banking systems, we’re helping early-stage entrepreneurs and small businesses get the funding they need to build and grow.

Enabling unprecedented levels of charitable giving

An important part of financial participation is the capacity to give back. For us, it includes inspiring people to support their communities and the causes they care about, as well as empowering charitable organizations with the tools and technologies they need to raise mission-critical funds. PayPal is committed to harnessing the power of technology and scale to build a worldwide network for good that inspires everyonewhether individuals, charities or global brandsto take action. Charitable organizations aren’t just raising funds through galas, auctions, written appeals and paper checks anymore. Digital payment methods have brought a new level of convenience and security to charitable giving, making it as easy as requesting an Uber.

More than 38 million people used PayPal last year to make online charitable contributions, raising $6.6 billion to benefit more than 497,000 charities. Together, with the help of everyone who contributed to charitable organizations through PayPal, we set a Guinness World Record for the most money raised online for charity in 24 hours with donations totaling $45.8 million for more than 250,000 charities on #GivingTuesday. Not only has technology brought a new dimension of convenience to giving, but it also powers the ability to respond in real-time. Less than 24 hours after a 7.8 magnitude earthquake struck Nepal near the capital of Kathmandu, PayPal launched a US campaign in support of more than 20 charities with additional appeals in the United Kingdom, Brazil, Canada, Singapore and Australia to follow. Over the next 30 days, PayPal helped to raise a total of $19 million in relief funds for more than 70 relief organizations through its digital giving platform, $4 million of which was contributed via a mobile device. When disaster strikes, the speed in which funds are mobilized through digital payments is essential.

With the entrance of ‘New Money’ and the rapid proliferation of technology and mobile usage, PayPal is helping to create conditions that make it easier to spend, give and borrow. By making financial services universally affordable and accessible, we have the chance to improve financial health of individuals and businesses worldwide, giving people greater control over their economic destiny with new ways to create opportunities for themselves, their families and their local communities.

Articles
Center for American Progress Action Fund

Tonight's Democratic debate is a must-watch for followers of the 2020 election. And it's a nice distraction from the impeachment inquiry currently enveloping all of the political oxygen in America right now.

For most people, the main draw will be newly anointed frontrunner Pete Buttigieg, who has surprisingly surged to first place in Iowa and suddenly competing in New Hampshire. Will the other Democrats attack him? How will Elizabeth Warren react now that she's no longer sitting alone atop the primary field? After all, part of Buttigieg's rise has been his criticisms of Warren and her refusal to get into budgetary specifics over how she'd pay for her healthcare plan.

The good news is that Joe Biden apparently counts time travel amongst his other resume-building experience.

Keep Reading Show less
Official White House Photo by Sonya N. Hebert

This election cycle, six women threw their hat in the ring for president, but is their gender holding them back? Would Americans feel comfortable with a woman leading the free world? Based on the last election, the answer is a swift no. And a new study backs this up. The study found that only 49% of American men would feel very comfortable with a woman serving as the head of the government. By comparison, 59% of women said they would feel comfortable with a woman in charge.

The Reykjavik Index for Leadership, which measures attitude towards women leaders, evaluated the attitudes of those living in the G7 countries as well as Brazil, China, India, and Russia. 22,000 adults in those 11 countries were surveyed on their attitudes about female leadership in 22 different sectors, including government, fashion, technology, media, banking and finance, education, and childcare.

Only two countries, Canada and the U.K., had a majority of respondents say they would be more comfortable with a female head of state. Germany (which currently has a female Chancellor), Japan, and Russia were the countries least comfortable with a female head of state.

Keep Reading Show less
Culture
via Gage Skidmore / Flickr

If you are totally ready to move on from Donald Trump, you're not alone. According to a report last April from the Wason Center National Survey of 2020 Voters, "President Trump will be the least popular president to run for reelection in the history of polling."

Yes, you read that right, "history of polling."

Keep Reading Show less
Politics
via Around the NFL / Twitter

After three years on the sidelines, Colin Kapernick will be working out for multiple NFL teams on Saturday, November 16 at the Atlanta Falcons facility.

The former 49er quarterback who inflamed the culture wars by peacefully protesting against social injustice during the national anthem made the announcement on Twitter Tuesday.

Kaepernick is scheduled for a 15-minute on-field workout and an interview that will be recorded and sent to all 32 teams. The Miami Dolphins, Dallas Cowboys, and Detroit Lions are expected to have representatives in attendance.

RELATED: Joe Namath Says Colin Kaepernick And Eric Reid Should Be Playing In The NFL

"We like our quarterback situation right now," Miami head coach, Brian Flores said. "We're going to do our due diligence."

NFL Insider Steve Wyche believes that the workout is the NFL's response to multiple teams inquiring about the 32-year-old quarterback. A league-wide workout would help to mitigate any potential political backlash that any one team may face for making an overture to the controversial figure.

Kapernick is an unrestricted free agent (UFA) so any team could have reached out to him. But it's believed that the interested teams are considering him for next season.

RELATED: Video of an Oakland train employee saving a man's life is so insane, it looks like CGI

Earlier this year, Kaepernick and Carolina Panthers safety Eric Reid reached a financial settlement with the league in a joint collusion complaint. The players alleged that the league conspired to keep them out after they began kneeling during the national anthem in 2016.

Before the 2019 season, Kaepernick posted a video of himself working out on twitter to show he was in great physical condition and ready to play.

Kaepnick took the 49ers to the Super Bowl in 2012 and the NFC Championship game in 2013.

He has the 23rd-highest career passer rating in NFL history, the second-best interception rate, and the ninth-most rushing yards per game of any quarterback ever. In 2016, his career to a sharp dive and he won only of 11 games as a starter.

Culture