Stories

PayPal joined global leaders in finance and technology at the Singapore FinTech Festival to discuss the trends shaping the future of payments and digital finance.

PayPal emphasized the enabling role security and responsible AI can play to support a seamless and personalized customer experience; drawing on real-world examples from our decade’s worth of investment and experience.

Shaun Khalfan, Senior Vice President and Chief Information Security Officer, spoke in the panel “AI in Action: Real-world Use Cases for the Financial Services of Tomorrow”, alongside leaders from Mastercard, Prudential, and Sumitomo Mitsui Banking Corporation. Shaun discussed how PayPal leverages AI and machine learning to protect customers from fraud on one hand, while personalizing their experiences on the other.

He emphasized how PayPal sees security as a cornerstone of delivering best-in-class services; and even as AI usage evolves rapidly, companies must ensure they preserve customer trust: whether with responsible AI practices that institutionalize transparency, cross-industry and sector collaboration to tackle bad actors, or other tools.

Phoram Mehta, Senior Director and Chief Information Security Officer, International Markets, echoed similar themes in an invite-only session on “Synergy in Cybersecurity,” designed to help shape policy roadmaps around the complexities of securing digital infrastructure in an age of rapid technological advancement.

Alongside fellow experts from organizations including the Cybersecurity Security Agency of Singapore, the International Monetary Fund, and Google Cloud, Phoram stressed the need for proactive resilience strategies, pointing out that breaches today can have industry-wide, or even global consequences due to the interconnected nature of the digital ecosystem. He also warned of the danger of building up a cybersecurity technology debt, pointing out how the impact of an incident can be incredibly high – hence “investing in robust cybersecurity frameworks is essential not just for financial protection, but for preserving customer trust.”

For more on PayPal’s perspectives on AI, watch us on MONEY FM and CNA.