BOSTON--(BUSINESS WIRE)--The Innovation Project, a PYMNTS.com production, today announced that it will honor PayPal with the 2014 Catalyst Award – the organization’s most prestigious annual award, signifying excellence in the payments industry. The award will be formally handed out March 20 at the Innovation Project 2014 conference on the Harvard University campus.
The PYMNTS Catalyst Award, given out for the first time this year, recognizes the company that has created the greatest value in payments, broadly defined, by eliminating friction between trading partners and in the process, creating an environment for other innovations and innovators to emerge. The prize is restricted to companies that were started in the two decades preceding the selection of the award. It is designed to recognize the most successful startups but will only be awarded when there is proven long-term success.
PayPal generated value by creating an easier way for merchants to receive payments and for consumers to make payments online, safely and efficiently. PayPal’s innovative process helped ignite the eBay platform by facilitating transactions between unknown buyers and unknown sellers. PayPal later moved into the offline world, leveraging its digital experience for the benefit of merchants and consumers. The company has inspired and created an entire ecosystem of innovators that leverage PayPal’s platform and technologies, helping to enrich the overall global commerce environment.
“PayPal is honored and delighted to receive the PYMNTS Catalyst Award,” said David Marcus, President, PayPal. “The Catalyst Award demonstrates our commitment and hard work to reinvent money by creating new and innovative products for our more than 143 million customers around the world. However, our commitment does not stop here and the entire PayPal team is dedicated to creating the great new payments experiences that will benefit people far into the future.”
The award will be announced during a live ceremony on Thursday, March 20, following the conclusion of The Innovation Project 2014, a two-day program hosted by PYMNTS.com that convenes the most elite innovators and executives to discuss the issues that impact every single player across every single facet of the rapidly changing payments and commerce ecosystem.
“PayPal is the standard in payments innovation that others seek to emulate. We congratulate PayPal and its entire leadership team for its work in making digital and connected commerce a reality that we can all benefit from,” said, Karen Webster, president, PYMNTS.com.
The Innovation Project 2014 will be held on March 19-20 at Annenberg Hall on the campus of Harvard University.* This year’s theme — “Rethink. Reset. Reinvent” — will address a variety of topics including the reinvention of retail, commerce, the consumer experience, security, digital cash and global commerce.
To request an invitation to participate as a delegate please visit theinnovationproject2014.com.
About The Innovation Project
Over 2 days, 60+ speakers and 600 senior members of the payments industry will change the way that the payments and its broader commerce ecosystem thinks, talks, delivers and ignites innovation. On March 19th & 20th the greatest minds in commerce and payments will assemble at Annenberg Hall in Memorial Hall on the Campus of Harvard University* near Boston to kick the conversation about innovation up to an entirely different level at The Innovation Project. Speakers and delegates are among the most senior executives from literally every established payments company worldwide.
PYMNTS.com is reinventing the way in which companies in payments share relevant information about the initiatives that shape the future of commerce and make news. This powerful B2B platform is the #1 site for the payments industry by traffic and the premier source of information about “what’s next” in payments. C-suite and VP level executives read it daily for these insights, making the PYMNTS.com audience the most valuable in the industry. It provides an interactive platform for companies to demonstrate thought It provides an interactive platform for companies to demonstrate thought leadership, popularize products and, most importantly, capture the mindshare of global decision-makers. It’s where the best minds and best content meet on the web.
*Please note that The Innovation Project and PYMNTS.com are not affiliated with Harvard University, nor is the Innovation Project 2014 a Harvard University program or activity.