The Blue Logo May Be Traditional, but PayPal Isn’t

While the explosion of start-ups and new payment solutions in the fintech space has signaled traditional banks to play “catch up” in some regards, still others have offered point-of-sale financing solutions all along. Dana Warren, senior director PayPal Credit merchant distribution at PayPal, shares insight on the current landscape of financial technology. At PayPal, her team works with millions of retailers to implement and optimize online financing options for consumers, especially Millennials and Gen Z. WWD: What are the overarching purchasing trends you’ve noticed in fashion and beauty categories? Dana Warren: Fashion and beauty consumers view their purchasing decisions as a part of their identity and a means of self-expression, especially Millennials and Gen Z. Some 60 percent of Millennials gravitate toward purchases that express their personality. Fashion purchases today are more than transactions — consumers make choices based on personal style, sustainability, ethical practices and values-driven brands. But that can also drive up prices, so this age group looks for alternative ways to buy these types of products, in a way that fits within their financial means. When PayPal Credit is offered, Millennials spend 28 percent more, and with Gen Z, it’s even greater at 41 percent. Online financing has been so

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