PayPal has nearly 200 million active users who spent $354 billion on the platform in 2016. It faces growing competition from other companies looking to get into the financial technology market including Apple and Amazon. PayPal CEO and president Dan Schulman joins "CBS This Morning" to discuss why going cashless is gaining popularity.

PayPal CEO on explosion of digital payments, key to security

Go beyond the weekday broadcast with "The CBS Morning Podcast.” Listen to in-depth and insightful conversations with newsmakers, authors, executives, celebrities and CBS News reporters.&nbsp;Subscribe to <a href="https://podcasts.apple.com/us/podcast/cbs-mornings-on-the-go/id1487204915" rel="noopener noreferrer" target="_blank">"CBS Mornings ON THE GO" </a>for the all the news you need to know to start your day in less than 20 minutes.

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Go beyond the weekday broadcast with "The CBS Morning Podcast.” Listen to in-depth and insightful conversations with newsmakers, authors, executives, celebrities and CBS News reporters.  Subscribe to "CBS Mornings ON THE GO" for the all the news you need to know to start your day in less than 20 minutes.

Go beyond the weekday broadcast with "The CBS Morning Podcast.” Listen to in-depth and insightful conversations with newsmakers, authors, executives, celebrities and CBS News reporters.&nbsp;Subscribe to <a href="https://podcasts.apple.com/us/podcast/cbs-mornings-on-the-go/id1487204915" rel="noopener noreferrer">"CBS Mornings ON THE GO" </a>for the all the news you need to know to start your day in less than 20 minutes.

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PayPal CEO on explosion of digital payments, key to security

PayPal CEO on explosion of digital payments, key to security