To: Global PayPal Employees
“It is our duty and privilege to be Customer Champions.”
This sentence from our mission statement is emblematic of what we stand for and is the very foundation of the company we are building together. We want to be a company that shows up and fights every day for our customers; that is never afraid to have the tough conversations or challenge conventional wisdom or legacy processes if we think we’ve found a way to better serve our customers. That’s our responsibility every day. And it’s also our privilege.
PayPal is certainly not the first company to strive to be customer-centric, nor will we be the last. But there’s a critical difference: our impact and success as a business is directly proportionate to the engagement and success of our customers. If our customers do well, we do well. If they grow, we grow. We need to always stay relentlessly focused on serving our customers, and if we do so, we can create magic for everyone.
Well, magic just happened. The total number of active accounts on our platform recently surpassed 250 million. This is an important milestone for our company, and a key marker on our journey to fulfill PayPal’s potential. On February 27, 2017, we announced that we had surpassed 200 million active accounts. The fact that we’ve added an additional 50 million accounts in a little more than 18 months – nearly 3 million accounts per month – is a testament to the tireless work you’ve done on behalf of our customers to add more and more value to our platform.
250 million is a big figure. After all, if the PayPal platform was a country, it’d be the 5th most populated in the world, ahead of Brazil (210M
) and just trailing Indonesia (266M
). But like with everything else in our business, it’s not about the macro numbers, it’s about the individual experiences. The small businesses that support families and fuel communities. The single-parents managing for their families. The college students figuring out their budgets. The non-profits working to serve those in need. The people and families and entrepreneurs who are new to digital finance and turn to us because they need a better way to borrow, to save, to spend, to share. The immigrants working hard to create a better life for their families and using our platform to send money back home.
It’s stories like these that make PayPal. We talk a lot about our technology, and we should because our platform and services are helping democratize global financial services for consumers and commerce capabilities for merchants around the world. But make no mistake; our platform is powered by people. Money is incredibly personal, and the trust that our customers place in us is the most valuable asset in the world. And that’s why being a Customer Champion is a privilege for each of us.
I want to thank everyone at PayPal for working tirelessly for our customers and helping us achieve this milestone. We have more work to do, and as our opportunity gets bigger so does our responsibility to our customers. But this is an important moment to savor, and as we now focus on the next quarter billion, we can feel proud of our progress!
Congratulations – and thanks again for everything you do for PayPal and our customers.