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Dan Schulman, Jocelyn Mangan, and Bora Chung

For helping us breeze through the checkout.

Dan Schulman, Jocelyn Mangan, and Bora Chung
[Illustration: Miguel Porlan]

The person

78. Dan Schulman

CEO, PayPal
As the head of PayPal, which is set to spin off from eBay later this year, Schulman oversees it all–from Venmo, the peer-to-peer payments app with a Facebook-like interface that PayPal acquired in 2013, to tools that help small businesses track their finances, like PayPal Here.

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79. Jocelyn Mangan

‎SVP, Product Management, OpenTable
A former food editor at CitySearch, Mangan is OpenTable’s longtime product lead. In 2014, the reservation management company rolled out a new system that lets diners pay for their meal from their phones–no check necessary.

80. Bora Chung

Vice president, eBay Marketplaces
Chung spent the bulk of her career at PayPal before jumping to Apple in 2010 and spearheading its online stores. She returned to eBay in December 2014 to help the company figure out payments post-PayPal, targeting its Cart and Checkout features.

The advantage

Dan Schulman

“We have data analytics and risk and fraud capabilities. And we have a brand that stands for trusted security. Venmo is one of the first times we’ve combined moving your money around with your social network. It’s because of that combination that Venmo grew sixfold over the last year.”

Jocelyn Mangan

“The ability to marry location and availability data. You’re standing on a street corner in New York, and we can not only see where you are but [also] tell you what’s available right around you. Then when you [are ready to] go? You can use the app to pay. It’s seamless.”

Bora Chung

“Roughly half of our experiences touch on mobile, which is where our future is. Mobile users are inherently more impatient. Therefore, the goal with Checkout is to make it super-streamlined and intuitive–part science, part art.”

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The biggest obstacle facing mobile pay

Dan Schulman

Collaboration. “Financial services [like PayPal] and mobile carriers have a complicated ecosystem of numerous players. I think the mindset needs to be one of partnership. No company can do this alone.”

Jocelyn Mangan

“[Paying on mobile is] a behavioral change that consumers haven’t gotten used to. No one used to make online reservations either, 16 years ago.”

Bora Chung

“Perception of security. What we have seen is a lot of early adopters experimenting. But how do we give the mass consumer the right calculus between convenience and security? That’s complex.”

The most exciting thing about mobile pay

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Dan Schulman

“The whole financial-services sector is being digitized. It’s transforming money, and powering human potential as a result.”

Jocelyn Mangan

“Security. You’re not handing your card to someone who walks away with it.”

Bora Chung

“The ability to aggregate all your payment choices.”

How many years until we can leave our wallets at home?

Dan Schulman

“I think the next three to five years are actually going to be the defining years in the financial-services industry.”

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Jocelyn Mangan

“The main reason you carry your wallet is your ID, right? Identity is the big one. I would guess we’re eight to 10 years away.”

Bora Chung

“I have no idea. I think the challenge is the long tail. We’ve seen some of the data on merchant adoption, and brands like Whole Foods have been doing really well, especially with Apple Pay. It also depends on what [consumers’ fear level] is. I don’t know how far you can go yet.”


Bonus Round: Dan Schulman

Where or how do you seek out creative inspiration?

The best way to find insight and perhaps inspiration, is to live in the footsteps of those you are trying to serve. It is one thing to understand something intellectually–it’s an entirely different thing to experience it physically and first hand.

What’s the first thing you do when you wake up in the morning?

Every morning, from 6:30-7:30 (in whatever time zone I find myself in) I train in Krav Maga, the Israeli form of martial arts.

What is one thing about your job that you think would surprise people?

I think they would be shocked at the amount of change sweeping through digital financial services. PayPal’s unique ability to harness this revolution and help drive profound change in the world is eye-opening and inspiring.

What’s your favorite Twitter or Instagram account and why?

I track a number of Twitter accounts to keep pulse of what’s happening real time, but I find 140 characters limiting in how I choose to view the world!

What are some things you do to refresh your mind when you’re in a rut?

I try to find a moment (or more!) every day to do something outside. Play tennis, go for a run, hike in the mountains . . . I’m open to any activity that helps clear my mind.

Who outside of your field inspires you the most and why?

My dad was, and is, my hero and inspiration. He taught me how precious every moment is while he fought off cancer. I’ll never forget that.


Bonus Round: Jocelyn Mangan

Where or how do you seek out creative inspiration?

Time away. I find one of the best sources of creativity is when I’m unplugged and uncommitted. It happens all the time. It’s also surrounding yourself with creative people. Our research team that went to Japan and learned so much about how they eat. Those have been the main things that inspired the creativity at our office.

What’s the first thing you do when you wake up in the morning?

The first thing is I get bitten by my puppy. And then it’s repeated by my two children. My mornings are more about my family, and then when I transition to my commute I read the daily news and then get into the day.

What is one thing about your job that you think would surprise people?

You get your energy when you just have a genuine interest in what you’re doing.

What’s your favorite Twitter or Instagram account and why?

I’m learning more than contributing. I mostly follow food and tech. Bon Appetit is one I follow pretty religiously. Instagram I’ve always loved. Facebook is its own world.

Who outside of your field inspires you the most and why?

At the moment it’s been my children. They have such an open minded sense of curiosity. (They’re 3 and 4.) They’re teaching me some of the greatest principles of curiosity. They’re in the test-and-learn phase, because you’ll just watch them knock something until it falls over. But that’s what we’re all doing, right? We’re just knocking things.


Bonus Round: Bora Chung

Where or how do you seek out creative inspiration?

My brother is an architect for an international firm and specializes in tall towers. He shares photos and sketches from his travels and they are fascinating. Our creative processes are both about connecting with humans.

What’s the first thing you do when you wake up in the morning?

I run downstairs and get my sources of energy–coffee and cold-pressed juice.

What is one thing about your job that you think would surprise people?

I take our team’s electronic scooter to go to meetings on eBay campus. The best way to move fast in between buildings and arrive on time for meetings!

What’s your favorite Twitter or Instagram account and why?

John Maeda. After hearing him present at eBay leaders day, I got hooked.  His posts are insightful and punchy. Perfect for info-snacking on smartphone.

Who outside of your field inspires you the most and why?

All the entrepreneurs from far corners of the world whose narratives I read on kiva.org, a nonprofit micro-finance organization. Premal Shah, founder and an ex-colleague from PayPal, connects lenders with them. The narratives are really rich and powerful. And Premal has been doing this even before financial inclusion and peer-to-peer financing were buzzwords.

About the author

Chris is a staff writer at Fast Company, where he covers business and tech. He has also written for The Week, TIME, Men's Journal, The Atlantic, and more.

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