PayPal CEO Dan Schulman: In 20 Years “There Will Be No More Credit Cards”
PayPal CEO Dan Schulman talked cryptocurrency, Amazon and the future of Venmo at TheStreet’s Investor Boot Camp conference in New York.
PayPal is more than just a button.
During an interview with Jim Cramer, PayPal Holdings, Inc. CEO Dan Schulman gave his thoughts on everything from blockchain to Venmo’s competitors at TheStreet’s Investor Boot Camp conference in New York.
Schulman became president of PayPal in 2014 and has been CEO since 2015. Previously, he served as group president of enterprise growth at American Express Company.
Here are three key takeaways from Schulman’s talk:
1. Beware Cryptocurrencies
Schulman said that while he is a big believer in blockchain technology, PayPal and its mobile payments platform Venmo does not offer cryptocurrency exchange to protect its users, unlike competitors like Square’s (SQ – Get Report) Cash app.
“We don’t want to be a part of consumers losing large amounts of money,” Schulman said.
PayPal does allow users to transfer digital currency from the cryptocurrency platform Coinbase once it has been transferred into fiat currency, “but we’re not going to help mostly scammers hurt consumers around this,” Schulman said.
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By Francesca Fontana
TheStreet
May 5, 2018 2:47 PM EDT
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