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Record-Breaking Donations Highlight the Power of PayPal

PayPal CEO Dan Schulman

PayPal CEO Dan SchulmanPayPal CEO Dan Schulman took to the corporate blog on Thursday to praise users for their charitable giving. People donated over $1 billion to charities and non-profits during the holiday season (Nov. 27 – Dec. 31, 2017), he revealed.

“This is the first time that we’ve ever crossed the $1 Billion threshold for holiday giving, and building on our record-breaking #GivingTuesday results, truly shows the giving power, compassion, and global reach (people donated from more than 180 countries) of the PayPal community.”

The total amount of money donated on the PayPal platform in 2017 was over $8.5 billion.

“$1 Billion over the Holidays and $8.5 billion for the full year are the headlines, but the real magic is in the increments – the individuals and the individual donations of every size that drive the aggregate numbers,” Schulman said, pointing to Microsoft founder Bill Gates’ statement that “Bad news arrives as drama, while good news is incremental.”

The record amount of online donations is impressive not only as a demonstration of people’s generosity, but as a reminder of how far PayPal has come in its relatively short life.

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Ina Steiner
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.