Ahead of Giving Tuesday, PayPal's CEO Dan Schulman says doing good is a responsibility for all companies.
"We cannot just rely on the public sector or the private sector. We all need to work together," Schulman told Jim Cramer on "Mad Money" on Monday.
Last holiday period, 7.25 million people gave over $850 million to 250,000 charities on PayPal. The company broke every record, Schulman said, as the platform facilitated $48 million in donations within a 24-hour period.
This was up from just $19 million the year before.
"Our mission and vision is to help businesses to grow, which of course is great for families of small businesses, communities, neighborhoods," Schulman said.
PayPal currently operates in 200 countries around the world, with 192 million people using its platform. Its goal is to help small businesses grow by exposing them to the global consumer.
The company reported results a little more than a month ago, and had in-line earnings, modestly higher than expected revenues and a slightly raised outlook for the rest of the year. It also has picked up some major partnerships, like Facebook, Visa and MasterCard.
"It wasn't that we needed these partnerships. What we did is we did a strategic choice within the company of basically saying let's give our customers the choice of how they want to pay and where they want to pay when using PayPal," Schulman said.
While the results of the partnerships are still in a very early stage, and Schulman says he does not like to extrapolate from early results, he did say that the results are very encouraging and could be slightly better than the projections.