PayPal executive Jim Magats published the following post on the PayPal corporate blog earlier this month titled, “PayPal Delivers on Customer Choice: 11 Partnerships in 11 Months”:
In a keynote address at Mobile World Congress 2016, PayPal’s President and CEO Dan Schulman announced partnership agreements with Vodafone and America Movil. This signaled a bold new direction for the company, and the payments industry in general, as PayPal and other industry leaders began leveraging our collective assets to advance the digitization of payments. Since that time, we’ve announced seven additional partnerships, including Visa, Mastercard, Alibaba, Facebook, FIS, Citi and Discover.
While every company in the ecosystem has a unique approach and value proposition, we are all focused on one core objective: to eliminate the inefficiencies in payments. Through partnership we can make our services more accessible to consumers and help increase conversion rates for merchants.
Our scale, global footprint, and powerful two-sided platform makes PayPal an ideal partner, as we can deliver unique experiences for their customers while offering immediate access to more than 15 million merchants across the globe. Having access to our platform enables our partners to advance and expedite their digital strategies while leveraging our infrastructure and risk capabilities.
For PayPal, partnership allows us to add more services to our value proposition, greatly strengthens our ability to offer more choice and flexibility in payments, and helps push our platform into new contexts, including in app and in store.
PayPal has several unique assets and products that are impossible to replicate. Through partnership we can create new digital commerce experiences while also maximizing existing ones. That’s how we progress. That’s how we serve our respective customers, while being more relevant and attractive to prospective ones.
We are constantly in conversation with other leading players in the ecosystem and look forward to establishing more partnerships to provide new, interesting, and convenient ways for our customers to move and manage money efficiently. There’s always more to do. But 11 deals in 11 months ain’t too bad.
Source: PayPal Corporate Blog post