March 16, 2018
India [is] really going through demonetization right now. They really never had point-of-sale terminals, credit card[s], and what they’re trying to do now is do everything through digital.
There aren’t middlemen in between to take a part of the transaction. There’s less corruption and graft that can go on. And so for government benefits, that kind of thing, there’s much less leakage if it can go directly from the government right into a digital wallet of the consumer. And so you’re seeing leapfrogs over what were credit card infrastructure or checking. – Dan Schulman, CEO of PayPal, shared in an interview with Jim Cramer