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digital money
Q&A with Stephen Fusco, PayPal
The Numbers
• GSMA Intelligence late last year estimated there were at least 7.19 billion mobile devices in the world.
• More than half of the largest online retailers in North America use PayPal, and the vast majority of its customers—about 80%—who start a PayPal transaction will nish it, says Stephen Fusco, PayPal’s vice president and general manager of distribution, North America.
• In Q4 2015, PayPal’s global revenue increased 16.9% year-over-year to
about $2.56 billion. U.S. revenue increased 25.2% to $1.3 billion.
• 81% of PayPal’s revenue stems from processing transactions for e-retailers, according to those Q4 results.
• As of late December, PayPal’s One Touch had attracted 10 million worldwide users and 1 million accepting merchants. In all, PayPal has at least 160 million consumer and 13 million merchant customers globally.
On the other hand, every day there’s another report about a fraud issue or a data breach. These things are actually at odds. People want the online shopping experience to be as simple as possible, but they don’t want the annoyance of making things more secure. That’s the thinking behind PayPal One Touch. (A consumer links his PayPal app and account information to the One Touch function, enabling purchases with a single tap.) One Touch bene ts
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