VentureBeat recently sat down (virtually) with Assaf Keren, CISO and VP of enterprise cyber security at PayPal. Keren’s career at PayPal spans eight years and includes a broad base of experience building security products, managing security infrastructure and creating and leading security services. Before PayPal, Keren founded two cybersecurity startups, served as head of security product management at Verint and was CISO for the Israeli e-Government Division (Ministry of Finance). For their latest quarter (FY Q2 2023), PayPal reported $7.3 billion in revenue, up 7% year-over-year, or 8% on a foreign currency-neutral (FXN) basis. Solid gains in transaction growth of 5% and a 37% increase in value-added services revenue contributed to a strong quarter. PayPal ended the calendar year 2022 with $27.5 billion in revenue and has a trailing twelve-month (TTM) revenue run rate of $28.5B. PayPal’s total payment volume grew 11%, supported by 10% transaction growth, while tight expense control drove an 11% decline in non-transaction costs. Despite a $1.2 billion impact from loans originating for the pending BNPL sale, PayPal generated strong free cash flow and returned $1.5 billion to shareholders. Overall, PayPal showed healthy volume and user engagement growth, significantly improved profitability, and progress on strategic initiatives.
Full interview : PayPal’s CISO, Assaf Keren explains on how generative AI can improve cybersecurity.
