by Tim Schäfer, Euro on Sunday

Daniel Schulman loosely addresses his lecture to investors in the New York Times building, while the PayPal boss wears jeans, a polo shirt and cowboy boots. Schulman can afford to be casual. Not only is the core business running on PayPal, other platforms of the US payment service provider are also attracting many customers. The number increased from July to September in total by 15 percent, the Group now has 254 million accounts. Users are also becoming more active, which pays off: At 15 percent, profit was up a little more than sales.

Schulmann obviously has a feeling for itWhat arrives at the generation smartphone. The payment service Venmo, a kind of financial Whats app, is especially hip. "It started as a service to send money to friends, and then gradually added value for users," says Schulman. Venmo opened the app for all merchants who accept PayPal. The taxi freak Uber has opted for Venmo. There are now also Venmo debit cards that can be used in stationary trading at the cash register. The transaction appears immediately on the phone. The info can share users with friends. Money earns the service over fees from merchants.

Piggy bank for millenials

Also with the saving app Acorns Schulman has a partnership. Many of the so-called millennials have been deeply touched by the financial crisis, the boss says about his
Target group. "Some saw family, friends or neighbors in financial need, they want to save more than you can imagine."

Moreover, it is the first generationwho grows up with the screen in mind. "Venmo is so popular because the app is linked to social media, with 94 percent of transactions involving emoji or being commented," Schulman said. The app is opened by users four to five times a week, also to see what friends do. PayPal and Venmo see Schulman as financial counterparts to Facebook and Instagram. "We offer services that enable people to manage their financial lives on their smartphones," is the credo of the PayPal boss.

But he also knows that young people can not be fooled. "You have a sense of whether a brand is authentic," he states. What is really interesting about this generation: Brands were once a promise, today it's about a good experience. "If you do not, you'll be destroyed on social media," says Schulman.

Allied with the Titans

The realization is reflected in the company. Since PayPal 2015 has strayed from mother Ebay, the services are steadily improving. PayPal customers have access to global banking giants such as Citigroup or JP Morgan Chase, as well as leading credit card issuers Visa and Mastercard. 19 million merchants worldwide accept PayPal.

In February, the ex-mother reneged on the PayPal services and engaged the competitor Adyen. Schulman further encourages that. A means to expand the business: acquisitions. For the Swedish mobile payment service iZettle paid PayPal in the spring of 2.2 billion dollars. iZettle is targeting $ 6 billion worth of transactions this year and plans to generate $ 165 million in revenue.

Jetlore also landed in Schulman's shopping basket.
Founded by Stanford University computer science students, the startup helps retailers improve their shopping experience. Partners are Ebay, the US fashion house Nordstrom and the largest Japanese clothing chain Uniqlo. The Hyperwallet service came to $ 400 million in June. The app serves clients, freelancers and contractors to cash in quickly. The travel company Expedia is a reference customer.

The shopping tour continues. Schulman wants to get up to $ 3 billion a year in acquisitions – and keep on looking casual.

Investor Info

Dynamic Primus

Ex-mother Ebay has been served by competitor Adyen since February, but PayPal can maintain its market leadership in online payment services. One basis: the partnership with global financial giants such as Citigroup, Visa or Mastercard. Business is growing dynamically, with quarterly revenue growth of 14 percent and net profit up 15 percent. This year, a profit increase of 25 percent is expected, 2019 it should be 20 percent. Growth stock.


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Image sources: Poptech / flickr, Sean Gallup / Getty Images

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