It’s not uncommon for Sri Shivananda, senior vice president and chief technology officer of PayPal, to wander the halls of the digital payment giant’s headquarters in San Jose, California, and take impromptu meetings with any of the thousands of engineers who work there.
Taming data has provided the answer to a central question underlying PayPal’s business: How do you balance the competing demands for secure transactions and a frictionless customer experience? But for PayPal, customer satisfaction hinges on its ability to provide both — and that balancing act is made possible by a deep understanding of the individuals using its platform. PayPal processes approximately 27 million transactions a day, collecting reams of data about its customers’ spending patterns, behavior, location and more.
At its most basic, PayPal has two sets of customers — everyday consumers and the merchants that sell to them. But granular customer data allows PayPal to move away from this either/or and toward a more tailored approach. “We started to segment them and go: In merchant, there is a large-enterprise merchant and a casual seller and everything in between,” says Shivananda. The more nuance detected about an individual, the more nuanced their experience. “We went from two to 12 to now 277 million.
“These days, even if you go in-store, you no longer are dealing with necessarily taking out your wallet. Hopefully soon we'll start to see rings and wearables that you just need to be in front of the counter for you to pay. You don't want to be in the business of punching in a credit card number or typing in a user ID and password. You express your intent, that intent is stored in a secure way and every time you do a transaction, the payment just happens in the background.
PayPal is also pushing the boundaries of its AI and machine learning capabilities, with applications from customer service and autonomous infrastructure to autonomous automation — PayPal engineers, Shivananda says, are currently experimenting with artificial intelligence that builds its own models.
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