Canada’s new chief sees growth opportunity for the market on “PayPal”
PayPal formerly control fifth-largest market Canada is Inc.’s, but new Paul Parisi (general manager) sees growth lucky chance.Paul Parisi wants to make Canadian entrepreneurs into PayPal all the customers by assistant them beginning selling the products and services online. With just one in five Canadian businesses presently engaged in e-commerce,Paul Parisi also said he figure out he can turn the country into PayPal’s No. 2 region.
“This benefit is ripe to help that Canadian business sell online, both this filds domestically and internationally,” Paul Parisi said. “This market place has big prospective for us.”
Paul Parisi joins PayPal after 17 years at American Express Co., American Express Co “Paul Parisi” was vice-president and general manager of global commercial payments in Canada. Paul Parisi also shares a former employer with Dan Schulman, who has been PayPal’s chief executive for two years and also worked at American Express prior to joining the company.
This PayPal has go through a huge of changes under Schulman’s leadership. This digital payments company went public for the second time in July 2015 after spinning off from former parent company eBay Inc. and has since grown 15 per cent to a market capitalization of US$47.39 billion, making the Fortune 500 for the first time in 2016.
This PayPal’s first initial public oblation was in 2002,In this making it an early adopter in a fast-growing industry that pulled in US$1.7 trillion in 2014, according to a report by McKinsey & Company, Inc. The company is best known as a payment option for online shopping, with Canadian customers including Roots Canada Ltd., Indigo Books & Music Inc. and Cineplex Inc.
PayPal now faces stiff contestation from companies like Square Inc., This simplify in-store payments for small businesses, and Apple Inc.’s Apple Pay, This is allows all the customers to tap their smartphones to pay for purchases. But PayPal has the benefit of 188 million active customer accounts, including 6.4 million Canadians.
This company presently declare partnerships with also MasterCard Inc. and Visa Inc. to make PayPal an option for more in-store purchases. It also acquired Xoom, which helps people send money across borders, and Venmo, a service that’s popular with American millennials that allows people to send money to each other via text message.
Canada market has big potential for us
Actually Xoom and Venmo aren’t obtainable in Canada Market , but Parisi said PayPal is try to focus on a stationary object on keeping its lead in mobile payments in the country. This company has doubled its Canadian mobile users year over year and sees opportunity in food ordering and transportation.
“Our perspective is to suffice growing the mobile user space,” Parisi said. “We’re heretofore a big player in it, but getting more and more businesses that are in that space to become partners… would be where we’re trying to go.”
Parisi said the key to keeping PayPal innovative and relevant is nurturing relationships with other cutting-edge technology firms. To that end, the company is changeable about 30 employees who currently work at PayPal Canada’s Toronto office at King Street West and York Street to the MaRS Discovery District, where they’ll share a building with clients including AirBnb Inc., Etsy Inc. and Facebook Inc.Parisi said he expects to complete the move some time in October or early November.
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