Dan Schulman, President and CEO-designee, PayPal

The past few months have seen tremendous activity as we work to complete the final steps toward separation from eBay and prepare to become an independent, publicly traded company on Monday. Despite all the distractions, it’s clear from our most recent financial results that the team has stayed focused on our customers and has been executing at a very high level.

During a strong second quarter, total payment volume grew 28 percent* to $66 billion and revenue reached $2.3 billion, an increase of 19 percent*. We processed 1.1 billion transactions, a jump of 27 percent. We added 3.5 million new customer accounts to reach 169 million. Payment volume, revenue and transaction count all grew more rapidly this quarter than they did in the previous quarter.

But if there is one number that really stands out, it’s that PayPal continues to grow at double the rate of e-commerce. This means we’re gaining share across the globe as we partner with the world’s top retailers and many of the leading next-generation commerce pioneers. It’s also a clear sign that PayPal is at the forefront of the once-in-a-generation transformation that is sweeping across our industry and changing the way that people shop and pay.

As we get ready to move forward as an independent company, there are plenty of additional signs of the power of PayPal. We’re one of the 10 most-trusted brands in a number of countries, and we’re far and away the top choice for U.S. consumers who plan to make their first mobile payment in a store in the next six months. We process payments for 67 of the top 100 mobile commerce companies globally, and PayPal offers one of the most-downloaded financial apps for Android phones.

Now, as mobile technology and the digitization of money continue to lay the foundation for the reinvention of commerce and financial services, our goal is to create the platforms and technologies that will make the benefits of this transformation tangible and accessible to people around the world. This is why we recently announced our intention to acquire San Francisco-based Xoom, a leading provider of international digital money transfer services.

There is no more personal – or important – payment experience than sending money back home to help family and friends. Unfortunately, the systems that people use for international remittances typically involve cash-based transactions that are time-consuming, insecure and expensive.

Today, Xoom enables its 1.3 million active customers in the United States to use a mobile phone, tablet or computer to send money to loved ones in 38 countries quickly, securely and more cost-effectively. The acquisition of Xoom will enable PayPal to provide simple, safe and affordable digital money transfer services to millions of people around the world in the large and growing international remittance market. And it marks an important step forward as we pursue our strategic vision to provide new ways for people to use PayPal in their everyday financial lives by making the movement and management of money work better for everyone.

For the last 17 years, PayPal has distinguished itself as an innovator and leader through our ability to harness the power of digital technology to enable people to use their money to connect to the things they care about more easily. As we enter the next phase of our history, our opportunities to build on this legacy and improve people’s lives have never been greater. Our strong results this quarter give us tremendous confidence that we are on the right path as we take the next steps in our journey.

*Calculated on FX-neutral basis