PayPal’s Super Bowl ad on the transformative power of digital finance is expected to reach an estimated 189 million viewers of the American football championship on Sunday. Its more than $5 million USD, 45-second TV ad on one of advertising’s biggest stages shows the importance of the message PayPal is trying to get across to the public.
And the message – according to a recent statement by Greg Fisher, PayPal’s Vice President of Global Brand Marketing – is this:
“People around the world are moving away from carrying cash and getting money out of ATMs to using digital wallets and making all of their purchases on mobile only. … Our purpose is to … empower people and businesses to move and manage money securely, efficiently and affordably.”
While PayPal’s Super Bowl ad is aimed mainly at an American audience, the message about the transformative impact of digital finance applies globally. And PayPal’s aims for the “future of money” are global, as evidenced in its recent investments in cross-border payments, including the purchase of Xoom for $890 million USD.
Mr. Fisher’s statement went on to announce the PayPal Super Bowl ad as the start of a much broader effort to discuss the transformative potential of digital finance.
“The launch of this ad is just the beginning of our new brand campaign designed to start a larger conversation about that future of money, and we want you to join because this new era – a re-imagined financial world – must include everyone,” said Fisher.
Re-imagining a world where digital finance – and all other information and communication technologies (ICTs) – include everyone is at the heart of the work of the Geneva-based International Telecommunication Union (ITU).
ITU’s role in boosting digital finance worldwide
As the United Nations specialized agency for ICTs, the ITU is at the forefront of efforts to bring private and public sector players together to accelerate the pace of ICT development to help meet the UN’s new sustainable development goals.
The ITU recently hosted representatives of the ICT and financial-services sectors during a free workshop on Digital Financial Services and Financial Inclusion in Geneva. The workshops focus on best-practices and supplement the work of the ITU Focus Group on Digital Financial Services, which is developing a set of operational recommendations, tools and solutions to assist countries in widespread adoption of DFS.
The group’s meeting in December advanced key deliverables to improve the cooperation of ICT regulators and central banks, built greater understanding of the roles and responsibilities of the stakeholders comprising the DFS ecosystem, and supported DFS operators in their efforts to achieve service interoperability. The group will hold its fifth meeting in late April.
For more information on ITU’s work to drive scalable digital financial services globally, please read the following two pieces by Sacha Polverini, the Chairman of ITU’s Focus Group on Digital Financial Services:
ITU News Magazine