PayPal CEO Dan Schulman is committed to helping support and promote financial inclusion by democratizing financial services and making banking activities more broadly available to everyone; the company is well positioned to support this initiative with more than six billion transactions occurring on its platform annually; Schulman provides some metrics around the benefits of digital transactions noting that the typical underserved population spends 10% of its disposable income on unnecessary fees and interest rates and with technology the cost of basic transactions can be lowered by as much as 80% to 90%.
Despite fintechs making inroads, a recent survey shows inclusion progress has not been as swift as expected, especially for women.
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[Editor’s note: This is a guest post from Sasha Orloff. He co-founded LendUp and Mission Lane and previously was Senior Vice...
PayPal’s CEO Dan Schulman has written an article in the Wall Street Journal; he believes that while technology generally has improved the lives of many, the potential of applying technology to expanding financial services is still unrealized; most people manage their money the same way they did years ago and fees paid by Americans still total $170 billion every year; Schulman believes that collaboration is key to achieving universal financial health. Source
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This is a post from Sasha Orloff who co-founded LendUp and Mission Lane and previously was Senior Vice President at...
There still remains millions of people in developed countries like the UK and US who remain outside the traditional banking...