Last week, PayPal was named to Fortune’s annual ‘Change the World’ list. Since launching in 2015, the list has showcased companies that are using the power of capitalism to improve the human condition and address important social or environmental challenges – not as a separate philanthropic endeavor, but rather through their profit-making strategy and operations.
Ranked at #3 on the list, PayPal was honored for the Employee Financial Wellness Initiative - which launched in October 2019 and was designed to improve the financial health and security of PayPal’s global workforce - and related efforts to help bolster the financial resiliency of our internal and external stakeholders through these unprecedented times. As we’ve continued to advance our employees-first commitment in 2020, PayPal has extended benefits and resources to proactively address economic hardships brought on by the global COVID-19 pandemic. As a result, our global colleagues have been well positioned to innovate and have continued to help PayPal rollout new products and services to help meet the evolving financial needs of our customers.
This is the sixth year that Fortune has published its ‘Change the World’ list and the third time PayPal has been included. In 2016, PayPal was named #19 on the list, recognized for the firm’s PayPal Working Capital offering, as well as the commitment to helping to drive down the cost of global digital remittances through Xoom. PayPal was again recognized for small business offerings and lending programs in 2018, ranking #48 of 57 total companies. Through these initiatives, PayPal has helped ensure that the vision of building a more inclusive economy and society is reflected from the inside out. In an interview with Fortune in April, PayPal President and CEO Dan Schulman said, "If you put your employees first and you put your customers first, then nobody forgets that, and you come out of this in a really strong position." In the ‘Change the World’ write-up, Fortune noted “PayPal’s subsequent performance has borne out this argument,” citing figures from our latest earnings report – our strongest showing ever as an independent company.
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