Many of us know PayPal as the easiest way to send and receive money between friends, family and businesses. For some of us, it’s a popular casino payments method. For others, a perfect opportunity to give to our favorite charities, especially today, known round the world as Giving Tuesday.
While generosity is always a good thing, no matter what day you do it, Giving Tuesday is the one day throughout the year when we are all encouraged to come together to do what we can for our fellow man. It falls on the Tuesday after Black Friday, which can certainly put a strain on the wallets as we’ve all just spent a little more than we could afford to snag the best deals of the year from our favorite local and online retailers.
But Giving Tuesday isn’t about how much you can donate to a worthy cause. It’s about donating any amount at all, whether it’s $1, $10 or $100. And when it’s done through PayPal, the company will add a 1% match on top of every single donation made. Not just today, either, but every day from now through December 31, 2016.
PayPal Hopes To Beat 2015 Records
Last year, PayPal’s Giving Tuesday campaign was an enormous, record breaking success. The popular e-merchant and casino payments processor transferred a staggering USD $850 million in donations towards 250,000 charitable organizations from 7.25 million incredibly generous folks around the world. On Giving Tuesday 2015 alone, PayPal facilitated USD $48 million in donated funds.
PayPal CEO Dan Schulman said last year’s efforts broke every single record associated with giving to charities during the holiday season. The $48 million they helped raise in just 24 hours was a massive increase from the $19 million the company transferred in the previous year. And he’s hoping to ink new records into the books in 2016.
“We cannot just rely on the public sector or the private sector. We all need to work together,” Schulman said yesterday in an interview with Jim Cramer of CNBC’s Mad Money.
Great Year For PayPal, Bright Future Ahead
Business has been booming for the casino payments giant. PayPal spread its wings exponentially since facilitating its first electronic transfer in 1999. The company now operates in over 200 countries across the globe, with 192 million members utilizing its payment services.
Schulman said PayPal’s ultimate goal is to boost business for smaller operators by providing global exposure of their products and services.
“Our mission and vision is to help businesses to grow, which of course is great for families of small businesses, communities, neighborhoods,” he explained.
PayPal’s most recent report, released in October, was wholly positive. While earnings were in-line with predictions, the revenue scale exceeded expectations and the company’s outlook has been raised for the remainder of the year. Inking new partnership deals with Facebook and two major credit card companies, Visa and MasterCard, didn’t hurt anything either.
Schulman called the new partnerships “a strategic choice within the company” meant to “give our customers the choice of how they want to pay and where they want to pay when using PayPal.”
Being so fresh, current reports have yet to document the actual value of PayPal’s latest contracts, but the CEO of the casino payments juggernaut divulged that preliminary results are encouraging, and that they are on track to slightly beat expectations.