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PayPal Holdings, Inc. is a leading technology platform that facilitates digital payments and commerce experiences for merchants and consumers globally. The company operates a two-sided network connecting 426 million active accounts across approximately 200 markets as of December 31, 2023, offering services such as person-to-person payments, merchant payment solutions, and cross-border transactions . PayPal's primary revenue streams include transaction revenues and revenues from other value-added services, with transaction revenues being the largest contributor . The company also offers credit products, including PayPal and Venmo branded credit products, and facilitates the purchase and sale of cryptocurrencies . PayPal's branded checkout and unbranded processing services, such as Braintree, are significant components of its business, with branded checkout being a key area of focus for growth .
- Transaction Revenues - Generates income from payment transactions and currency conversion fees, serving as the largest revenue stream.
- Branded Checkout Services - Provides a seamless checkout experience for consumers, focusing on enhancing user engagement and conversion rates.
- Unbranded Processing Services (Braintree) - Offers payment processing solutions for merchants, enabling them to accept various payment methods.
- Other Value-Added Services - Includes partnerships, referral fees, subscription fees, and interest on customer balances, contributing to diversified revenue streams.
- Credit Products - Offers PayPal and Venmo branded credit products, providing consumers with flexible payment options.
- Cryptocurrency Services - Facilitates the purchase and sale of cryptocurrencies, expanding digital asset accessibility for users.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Aaron Webster Executive | EVP, Chief Enterprise Services Officer | None | Former Chief Risk Officer at SoFi; expertise in risk management and operations. | |
Alex Chriss Executive | President and CEO | None | Former EVP at Intuit; led Small Business Group with 20%+ CAGR; joined PayPal as CEO in 2023. | View Report → |
Diego Scotti Executive | EVP, GM – Consumer Group & Global Marketing | None | Former CMO at Verizon; extensive experience in marketing and consumer engagement. | |
Frank Keller Executive | EVP, GM – Large Enterprise & Merchant Group | None | Longtime PayPal leader; oversees merchant-facing products like Braintree and PayPal Checkout. | |
Jamie Miller Executive | EVP, Chief Financial Officer | Board Member at Qualcomm | Former CFO at Cargill and GE; extensive experience in finance and strategy. | |
Michelle Gill Executive | EVP, GM – Small Business & Financial Services | None | Former EVP at Intuit and SoFi; extensive experience in consumer lending and financial services. | |
Suzan Kereere Executive | President, Global Markets | Board Member at 3M | Former EVP at Fiserv and Visa; deep expertise in global payments and merchant solutions. | |
Ann M. Sarnoff Board | Director | Vice Chair at McDonough School of Business; Board Member at Realm Media and WTA Ventures | Former CEO of WarnerMedia Studios; expertise in media, consumer engagement, and partnerships. | |
David M. Moffett Board | Director | Trustee at Columbia Threadneedle Mutual Funds; Director at CSX Corporation | Former CEO of Freddie Mac; extensive experience in finance and corporate governance. | |
Deborah M. Messemer Board | Director | Board Member at Allogene Therapeutics and TPG | Former Managing Partner at KPMG; expertise in finance, accounting, and corporate governance. | |
Enrique Lores Board | Independent Chair of the Board | President and CEO of HP Inc.; Board Member at HP Inc. | CEO of HP Inc.; extensive leadership experience in technology and global business operations. | |
Frank D. Yeary Board | Director | Chair at Intel Corporation; Board Member at Mobileye; Managing Member at Darwin Capital | Former Vice Chancellor at UC Berkeley; expertise in finance, M&A, and corporate governance. | |
Gail J. McGovern Board | Director | CEO of American Red Cross; Board Member at DTE Energy; Trustee at Johns Hopkins | CEO of the American Red Cross; expertise in marketing, customer relations, and corporate governance. | |
Jonathan Christodoro Board | Director | Partner at Patriot Global Management | Experienced investor; former board member at Lyft, Xerox, and Herbalife. | |
Rodney C. Adkins Board | Director | President of 3RAM Group; Chair of Avnet; Director at UPS and W.W. Grainger | Former IBM executive; expertise in technology, corporate governance, and global business operations. |
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Given your expectation of lower volume and revenue growth in the second half of the year, despite increasing investment in strategic growth initiatives, how do you plan to offset the anticipated pressures on transaction margin dollars, especially considering the smaller tailwind from interest on customer balances and normalization in transaction and credit losses?
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With the competitive pressures from alternative payment methods like Apple Pay, particularly in the mobile payments market, how do you plan to maintain and grow your market share, especially when you acknowledge the increasing competition and changing dynamics in the industry?
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Braintree has begun contributing to transaction margin dollar growth for the first time in over two years, but you expect lower volume growth as you focus on profitable growth; how sustainable is this contribution from Braintree, and could prioritizing profitability over volume growth impact your competitive positioning in the long term?
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You have highlighted the untapped opportunity in the SMB market and the rollout of PPCP; what challenges have you faced in effectively penetrating the SMB segment previously, and how does your current strategy address these obstacles differently?
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Regarding the forthcoming opportunities in Europe with changes around NFC technology, how prepared is PayPal to capitalize on these changes, and what potential regulatory or competitive barriers could impede your ability to expand your omnichannel solutions in the European market?
Recent press releases and 8-K filings for PYPL.
- New Branded Checkout Experience: PayPal is enhancing its checkout by introducing a new button featuring biometric login (95% success rate) and 40% improved latency, which is already delivering a 100–400 basis point lift in conversion, along with an integrated Buy Now, Pay Later experience that boosts first-time user engagement by over 100%.
- Phased Global Rollout: The new checkout is being deployed in three phases—starting with the US market (currently at about 30% adoption), then moving to Europe (Germany and the UK), and finally rolling out globally, with international markets already contributing 60% of branded volume.
- BNPL and Venmo Growth: The BNPL product processed $33 billion in TPV last year with plans to double within three years, while the Pay with Venmo option, which generated approximately $8 billion last year, is targeted to achieve a 40%+ CAGR, aiming to triple its current volume.
- Enterprise Payments Rebranding & Value-Added Services: With the rebranding of Braintree to PayPal Enterprise Payments, the business is now focusing on pricing value and margin improvements, supported by integrated high-margin services including risk management, FX, and payment orchestration.
- New management and organizational refresh: The company has revamped its management team and finance function to drive operational efficiency and refocus on growth initiatives, including improved operating rhythms and expense discipline.
- Enhanced branded checkout and merchant experience: PayPal is investing in the consumer app and merchant integrations to lift conversion rates and boost transaction volume—expecting branded checkout volume to grow from a mid-single-digit base to 8%-10% by 2027.
- Expansion of Buy Now, Pay Later and Venmo offerings: With significant steps to reintegrate and scale its BNPL and Pay with Venmo products, the company projects a 20% CAGR for BNPL and a 40% CAGR for Venmo monetization through 2027.
- Omnichannel and platform convergence initiatives: Strategic partnerships, notably with Verifone, and the launch of PayPal Open are aimed at creating a seamless, integrated commerce platform that benefits both merchants and consumers.