Purpose and values are often derided as corporate buzzwords or feel-good messaging. But for Franz Paasche, SVP of Corporate Affairs at PayPal, these foundational elements of corporate character are the lifeblood of the enterprise. They are what differentiates this financial disruptor from its peers.
On this episode of The New CCO, Paasche discusses PayPal’s purpose to democratize financial services. From remittances for small businesses to cash advances for furloughed government workers during the shutdown earlier this year, PayPal lives by its purpose and makes it real through action.
The company’s mission and values similarly inform its policy positions, some of which have played out on the national stage: as in the case of PayPal’s responses to North Carolina’s controversial “bathroom bill” and the Charlottesville episode. As Paasche notes, “If you have a clear sense of your mission and you have a clear sense of your values, then these are not political decisions, these are values-driven decisions.”
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