Happy Women’s Day! Here’s what PayPal thinks about gender and pay balance
Silicon Valley giant PayPal, the fast-growing online payments market-leader, is no stranger to progressive ethics. CEO Dan Schulman has been candid about his view that PayPal should be making the world a better place, and previous campaigns like offering credit with very low interest to people who don’t usually have access to it, and helping the “unbanked” find alternative financial arrangements, play into that story. Now, on International Women’s Day, the company wants to highlight another area in which it is striving to change the world for the better: gender equality.
Check out PayPal’s International Women’s Day video below:
In the video above, PayPal’s executive vice president for chief business affairs and legal officer, Louise Pentland, speaks to five female CEOs and business leaders, and shares their insights on how to create a more gender-balanced world.
According to a press release from PayPal, women make up “nearly half” of the American workforce, and are beating out their male rivals in regards to education and entrepreneurism. The release states: “according to the Bureau of Labour Statistics, and the number of women-owned firms grew 45% between 2007 and 2016, a rate five times faster than the national average.”
PayPal’s share price has risen by 16% so far this year
Source: Yahoo Finance
Despite this impressive female showing, Pentland notes that women typically earn just 49 cents to the male dollar. In other words, finding access to capital and funding is a particular challenge. PayPal is committed to finding innovative solutions to this predicament.
All through March, PayPal will be highlighting female run businesses on its website, letting women entrepreneurs share their stories. It will also be working with Free the Bid to support women in film. And, last but by no means least, from today until March 23, PayPal will be donating $2 for every purchase at select retailers to causes that support women.
As the company makes clear, there is still a significant way to go before we achieve gender parity in business. But investors can rest assured that PayPal is part of the solution, not part of the problem. The company released a statement days ago saying: “for the third year in a row, PayPal has achieved full pay equity in salary globally for women and men, as well as ethnic pay equity in the US.”
Dominion holds PayPal in its Global Trends Ecommerce Fund.
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