West has led major innovation programs throughout his career; including designing and launching products at PayPal (point of sale, multichannel, deferred payments and demand generation products and experiences), VISA (proposing and launching a new method of eCommerce payment, now V.me), and at Amazon (designing and launching their digital video service and first billable web service).

1. NEW COMMERCE, NEW PAYMENTS
INNOVATING TO GET SHIT DONE
West Stringfellow
Global Head, Product Platform &
Senior Director, Product

2. PayPal, circa 2010
PayPal is…
100M+ users, 9M+
merchants in 190+ markets
The way to pay online.
…now what?
8/28/2012 2

3. PayPal is the way to pay online anywhere!
online.
We moved offline to:
• Drive ubiquity for our customers
- let them use PayPal all the
time …
• Pursue an opportunity an order
of magnitude larger than our
online opportunity
… but how do we get there?
8/28/2012 3

4. Moving offline required significant innovation
Put Aside Preconceived Imagine the Perfect Shopping
Limitations Experience
… but how did we get there?

5. Innovation is a Long Term Investment

6. Hypergrowth is an Anomaly

7. Fear Kills Innovation

8. PayPal’s relentless pursuit of innovation has
taught us …
Because: You Must:
 Know Your Customers
Innovation is a Long Term
Investment  Know Yourself
and  Communicate – consistently
Hypergrowth is an Anomaly  Iterate – constantly
 Maintain Persistent Self
and Awareness
Fear Kills Innovation  Fail – fearlessly

9. Know Your Customers
Innovation Lessons:
 Know Your Customers
 Know Yourself
 Communicate – consistently
 Iterate – constantly
 Maintain Persistent Self
Awareness
 Fail – fearlessly

10. Know Yourself
Innovation Lessons:
 Know Your Customers
 Know Yourself
 Communicate – consistently
 Iterate – constantly
 Maintain Persistent Self
Awareness
 Fail – fearlessly

11. Communicate - In a way that others will understand
Innovation Lessons:
 Know Your Customers
 Know Yourself
 Communicate – consistently
 Iterate – constantly
 Maintain Persistent Self
Awareness
 Fail – fearlessly

12. Iterate – constantly
Innovation Lessons:
Design
 Know Your Customers
 Know Yourself
 Communicate – consistently
Learn Build  Iterate – constantly
 Maintain Persistent Self
Awareness
 Fail – fearlessly
Test

13. Maintain Persistent Self Awareness
Innovation Lessons:
 Know Your Customers
 Know Yourself
 Communicate – consistently
 Iterate – constantly
 Maintain Persistent Self
Awareness
 Fail – fearlessly

14. Learn from Failure
Innovation Lessons:
 Know Your Customers
 Know Yourself
 Communicate – consistently
 Iterate – constantly
 Maintain Persistent Self
Awareness
 Fail – fearlessly

15. Accept and Learn from Failure

16. Last: Never Outsource Your Innovation

17. Launching Point of Sale was the largest
program in our history
Our success allowed partners to scale our products to thousands of their
locations FAST

18. Our vision is to help merchants and consumer
create better connections
Our technology and ecosystem, with our track record of
innovation, will continue to make our vision real!

19. NEW COMMERCE, NEW PAYMENTS
Thank you.