PayPal CEO predicts digital payments industry wi

PayPal CEO predicts digital payments industry will mature into a $100 trillion market
PUBLISHED TUE, FEB 19 2019 • 5:31 PM EST | UPDATED WED, FEB 20 2019 • 1:10 PM EST

KEY POINTS
“We live in the space of digital commerce and digital commerce is exploding still around the world,” PayPal CEO Dan Schulman says.
“I think the new way of the world going forward is how do companies take the best of their platforms [and] put them together to better serve companies,” he says.
“P2P, or peer-to-peer payments, is exploding in the market. It’s a multi-hundred-billion-dollar marketplace. This will definitely not be a winner take all,” he says.


Paypal CEO: Shouldn’t expect Venmo to be profitable in next one, two quarters
PayPal CEO Dan Schulman told CNBC that the digital payments industry may become a $100 trillion market as the financial technology sector continues to grow rapidly.

“It could be, you know, a $100 trillion market,” he said in an interview with Wilfred Frost on “Closing Bell” Tuesday. “That’s sort of the market — total addressable market — we’re playing into. We may have, like, 1-2 percent share of that market today.

And as Venmo, PayPal’s popular mobile payments service, continues to partner with more merchants, he said there are no signs that disappointing holiday sales and a potential global slowdown will negatively affect the sector. The number of payments processed on the platform surged 80 percent year over year in the last quarter and Schulman thinks the company could process more than $100 billion worth of transactions in 2019.

“We live in the space of digital commerce and digital commerce is exploding still around the world,” he said. “There’s an explosion in digital commerce and we’re riding that wave. What we see is pretty positive.”
https://www.cnbc.com/2019/02/19/digital-payme...l-ceo.html