In October 2016 PayPal set up a loan fund to gift 10,000 $25 Kiva Card credits to the first 10,000 PayPal employees and customers who made a loan with their own money as a reward. 23,000 PayPal employees and 31 million PayPal customers were invited to make a $25 loan, and the outcomes were impressive: the project not only hit its goal of 10,000 lenders, but also brought 6,807 first-time Kiva lenders and generated over 30 million impressions overall. In addition, the initiative clearly struck a chord with PayPal’s employee base by providing an easy, entertaining and rewarding way to invest in intriguing entrepreneurs from a variety of backgrounds. Many reported that they felt closer to PayPal’s vision of democratizing financial services as a result. This session will dive into the details of the partnership, explore the benefits for all parties involved, and explain how it could be adopted in other contexts.
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