Advancing Economic Equity for Women and Girls: How PayPal is Helping to Create a More Inclusive Future
PayPal’s mission is to democratize financial services and ensure that everyone can participate fully and fairly in our global economy and improve their financial health. This serves as the foundation for how we conduct business every day and includes our responsibility to help improve the financial health of women. We know that improving the economic lives of women globally can empower their families, communities, and the overall economy. By removing barriers for women and girls, we can create a more inclusive world where everyone can thrive.
It’s a year-round endeavor, but in celebration of Women’s History Month and International Women’s Day, we want to pause to reflect on this work. Keep reading for an update on how PayPal is executing its mission through ongoing economic justice commitments for women and girls across the world.
An Update on the Progress Towards Our $108 Million Commitment to Advancing Gender Equity
In 2020, PayPal was selected to serve as the private sector leader for the Economic Justice and Rights Coalition for the United Nations Generation Equality Forum. Through this initiative, in 2021, we announced a $108 million commitment over five years to advance financial inclusion and economic empowerment for women and girls.
PayPal Community Impact Team in Manila, Philippines.
As part of this commitment, PayPal employees from across 22 countries pledged to provide more than 10,000 hours of capacity-building and skill-based volunteer services to charities advancing gender equality by 2026.
Thanks to PayPal employees’ energy and passion, we have already surpassed this 10,000-hour goal, achieving it only two years into the five-year timeline. By using resources from every corner of the company—our products, services, giving, time, and expertise—we have been able to support women entrepreneurs as they grow and scale their businesses. Since the start of our commitment in 2021, our employees have completed more than 26,000 volunteer hours with organizations that support women and girls.
Capacity-building and skills-based volunteering has the power to transform our nonprofit partners’ infrastructure and leadership, deepening their impact. Nearly 50% of the volunteer hours completed have been focused on skills-based work. Meanwhile, our employees further PayPal’s mission and values while gaining practical experience with project management, communications, and facilitating and delegating tasks – all while exercising their technical acumen in a new context.
Exceeding the 10,000-hour milestone is one part of a larger journey to equip women entrepreneurs and aspiring career professionals with the agency, skills, resources, and opportunities they need to compete equitably in markets, achieve long-term economic resilience, and strengthen financial health.
Expanding Volunteerism to Support PayPal Partners and Employees
Volunteerism is an integral part of PayPal’s culture and efforts to build a more inclusive and resilient world. In line with this year’s International Women’s Day theme, “Embrace Equity,” PayPal employees are participating in local service activities to advance women’s economic empowerment. For those who are unable to volunteer their time, PayPal will match employee donations to local organizations focused on women’s empowerment. The PayPal community is also focused on supporting women and girls through our partnerships with various nonprofits including Black Girl Ventures, Her Academy, Narika, The Cherie Blair Foundation for Women, and more.
PayPal Employees in Austin Volunteering at a Kit Packing Event.
Using Mentorship to Empower Women Entrepreneurs
PayPal also continues to support budding entrepreneurs through the Cherie Blair Foundation for Women’s “Mentoring Women in Business” program. Since the start of our partnership five years ago, more than 350 PayPal employees have served as mentors for hundreds of women entrepreneurs from low- and middle-income countries around the world. Through a year-long mentorship program, PayPal employees coach the mentees as they work through their business ideas and challenges as small business owners. After participating in the program, 62% of PayPal mentees reported improved business performance and 62% were more confident in their own business skills and abilities.
Beyond Volunteering: Uplifting Indigenous Female Artists
PayPal is committed to doing our part to address the inequities that underrepresented entrepreneurs around the world face. As part of these efforts, PayPal’s Social Innovation team commissioned, unveiled, and displayed unique pieces of art at 13 of our sites around the globe. Each hosted work was created by an Indigenous and local artist who identifies as female and was uniquely selected for its location and space. Artists were among the many entrepreneurs that were impacted during the COVID-19 pandemic, and we’re proud to support them by displaying their work across various global PayPal offices.
Women play a critical role in the resilience of the global economy and financial health of our communities. We believe that we have an opportunity and a responsibility to build a more inclusive economy so that even more women can participate and thrive.