At TheStreet's Investor Boot Camp, Jim Cramer sat down with PayPal CEO Dan Schulman and they talked about everything from the democratization of money, to boardroom to whether the company is threatened by Amazon's (AMZN) - Get Amazon.com, Inc. Report Alexa.
"That conversation alone was worth the price of admission today," said AAP research analyst Jeff Marks, who sat with Cramer and gave a post-interview wrap-up.
Schulman spoke with Cramer at his TeachIn for almost an hour about the things they were doing as one of the top fin-tech companies in the world.
"25% of our working capital loans are to the 3% of counties in the U.S. where 10 or more banks have closed branches. Where do banks close branches? They close banks in neighborhoods where the medium income is below the national average. So we are actually performing a service for those small businesses that they just couldn't have gotten other places."
Schulman said the company's goal is to be the world's largest open digital payments platform so they are teaming up with banks like Wells Fargo (WFC) - Get Wells Fargo & Company Report , Bank of America (BAC) - Get Bank of America Corp Report , JPMorgan Chase (JPM) - Get JPMorgan Chase & Co. (JPM) Report to offer consumers and merchants more options.
"We grow our processing volume now on average 30%+ every single quarter," he said. The company has almost 240 million people on the platform, growing at over eight million per quarter.
They went on to talk about about diversity throughout the company and in the boardroom
Cramer then asked about the opportunities in other countries like India, as well as his thoughts on blockchain and cryptocurrencies
So take the time to listen to the full conversation because when the hour-long interview was over, Cramer and his analyst Marks were prompted to buy more shares.
Excerpts from Jim Cramer's event here:
- Cramer's Investing Rules Still Hold True
- Tesla: Panelists at Investor Boot Camp Not Big Fans
- Cramer: 2018 Nightmarishly Opposite from 2017
- PayPal CEO: We Want to Democratize Money For All Consumers
Learn More about TheStreet's Investor Boot Camp HERE