When PayPal launched almost three decades ago, the company made its name as one of the world’s first fintechs. Now, PayPal faces a slew of competitors, from the payments colossus Stripe to Big Tech giants like Apple. “One of the challenges when you are at a certain scale and you’ve been around for a while is the very classic innovator’s dilemma,” Alex Chriss, the president and CEO of PayPal, told Fortune. “What you’ve done has worked, and are you constantly thinking about how to disrupt yourself?” Invest ...

Core Insights - MoneyGram is undergoing a significant transformation under new CEO Anthony Soohoo, who has a background in digital transformation at major companies like Apple and Walmart [1][3] - The company has shifted from a traditional cash-based model to a more digital-focused approach, with digital transactions increasing from 20% in 2019 to 70% currently [4] Company Background - MoneyGram was founded in 1940 as Travelers Express and became known for money orders, later acquiring the name MoneyGram in 1988 [2] - The company struggled with debt and declining share prices as digital payment solutions like Venmo and blockchain emerged [3] Recent Developments - In 2023, MoneyGram was taken private by Madison Dearborn Partners, which appointed Soohoo as CEO [3] - The company has integrated a stablecoin tool into its app, launching it in Colombia, a market with a significant remittance economy [4] Strategic Initiatives - Soohoo has focused on transforming the organizational culture and has brought in new leadership, including a former Klarna VP as Chief Technology Officer [5] - The company is described as "consistently profitable" with positive and growing free cash flow, although specific financials are not disclosed [4]