By Jeremy Quittner.
The way PayPal’s president and CEO Dan Schulman sees things, the company’s biggest opportunities are still in front of it, and they are gigantic. And even though the company is more than 15 years old and faces a host of competitors in the digital payments territory it helped create in the late 1990s, it has only just begun.
“We are just scratching the surface,” Schulman said.
In an interview at Northside Festival in Brooklyn, N.Y. on Friday, Schulman mapped out new territory for the ecommerce payments company, which spun off from parent company eBay EBAY -0.35% in 2015.
There’s still a formidable market to crack. Schulman said the global payments market is currently worth $100 trillion, and about 85% of payments still occur through cash. To put that in perspective, PayPal processed $278 billion in payments in 2015, generating revenue of $9.2 billion. The company counts 184 million customers, 14 million of whom are merchants.
Read more at Fortune.