PayPal Is Ready For Secure Digitised Cash Transactions

PayPal is ready for a future of quick, efficient and secure digitized cash transactions

- Victor Chen

Dr. Rohan Mahadevan, senior vice president for International Markets at PayPal, views customer financial health as integral to the company’s business. “Two years ago, we conducted an independent study and found out that a lot of people were interested in what we coined as ‘financial health’,” he shares. In the process of fulfilling its services, PayPal helps customers achieve financial health in three ways, Dr. Mahadevan says.

First, it reduces the cost of managing money by offering the convenience of a digital solution. “I was often late with my payments when I used to send out cheques,” he says, taking into account the tedious process and the penalties for delay. “Now that I have everything in digital, I can actually save money and meet payment deadlines.” PayPal, he adds, delivers the same benefits to its customers.

PayPal also helps cushion the impact of poor performance of a target market. “Imagine that you have only one market for your products; when that market slows down, your business affected.” By providing access to more markets anywhere in the world, PayPal helps merchants even out the effects of diminishing transactions by allowing them to focus on healthier markets.

Finally, PayPal helps create financial opportunities. “I have seen people turning hobbies into businesses. I met a 25-year old woman in the Philippines who began selling t-shirts with her own designs when she was just 14 years old. She couldn’t open a PayPal account, and had to rely on her friend to accept payments.” This limited her market options and reach, he explains.