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Paypal CEO discusses the need for digital payments

May 7th, 2020 at 1:16 pm

CNBC Television, May 7

With a new and abrupt shift in the way we handle transactions, businesses are adjusting to the tide and continuing to develop ways to minimize contact with cash currency. In an interview with Paypal President and CEO, Dan Schulman, he discusses online spending trends, cashless payments, and why they are no longer something businesses want but something they must have.

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Talking Points

  • Recent survey mentioned 60% of American’s are uncomfortable touching cash, and do not want to touch a keypad.
  • Acceleration across all of our lives from physical to digital.
  • Digital Payments are moving from a nice to have capability to a must have essential service.
  • We are at a tipping point in ecommerce and we are much further ahead because of this crisis.
  • You are going to see digital omnichannel payments, through contactless payments, and will see a lot more people ordering online, using a QR code or tapping their phone.
  • We are all going to see a hastening in the demise of cash.

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