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Paypal CFO: Continuous Development of Digital Payment Brings An End to Cash Payment

Abstract : The CFO of Paypal said that the prevalence of digital currency and mobile payment make cash payment outdated and therefore, Paypal will expand its service as well as boost inclusive finance.

ChainDD
ChainDD

Nov 03

John Rainey, CFO of Paypal recently said in a CNBC interview that the prevalence of digital currency and mobile payment make cash payment outdated and therefore, Paypal will expand its service as well as boost inclusive finance.

Rainey also quoted a few possible factors responsible for death of cash. The rise of digital payments and mobile phones is the most important reason. He told CNBC that Paypal hopes to expand financial services to potential clients in fast-growing regions including India, Latino America and Africa. It is noteworthy that Paypal is not the only company that hopes to expand business in these regions. Facebook’s Libra also focuses on the same group of users.

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