PALO ALTO, California — To celebrate Maggie Lena Walker’s contributions, and those of the many underrepresented women who have created opportunities for advancement in their communities, PayPal is establishing the Maggie Lena Walker Award.

“At a time when Black people in the United States were denied opportunities for wealth creation, Maggie Lena Walker made it her life’s mission to advocate for economic independence in her community. Her story is one of perseverance, dedication and bravery. In this spirit, we are honoring Walker and her contributions through an award program that recognizes inspiring women who are leading and advancing economic empowerment for underserved communities today.  – Dan Schulman, president and CEO, PayPal

The Maggie Lena Walker Award will recognize and promote the achievements of underrepresented women who have blazed new paths in their industries, demonstrated a commitment to economically empowering those in their communities and are ultimately creating a more inclusive, dynamic and equal world.

We’re proud to announce that @PayPal is establishing an award in honor of Maggie Lena Walker, which will recognize the contributions of underrepresented women who are economically empowering their communities. https://t.co/jurXXHhp0u pic.twitter.com/jpnoIKuUTu

— PayPal News (@PayPalNews) March 11, 2021

This award is an extension of PayPal’s mission to foster an inclusive economy and builds on our $535M commitment to racial equity and closing the racial wealth gap.

“The family is ecstatic that PayPal is choosing to honor the contributions of women in underrepresented communities through Grandma Walker’s legacy. It’s critical that we highlight the stories of women that often go hidden in history and use them to inspire the next generation of women leaders.”  – Liza Mickens, great-great-granddaughter of Maggie Lena Walker and co-founder of Vote Equality

The award will recognize women who are part of underrepresented minority groups defined in the U.S. as African American, Hispanic or Latinx, Native American or Alaska Native, Native Hawaiian or Pacific Islanders and those of two or more races that include one of the above. Each year, we will select award recipients in each of the following categories:

• Maggie Lena Walker Achievement Award: An individual with a noteworthy career, or pioneer in their field, with a focus on economic empowerment and breaking down barriers for those in their community.
• Maggie Lena Walker Emerging Leader Award: An individual in the early- to mid-stage of their career who is blazing a new path in their industry and creating opportunities for advancement in their community.

Awardees will be nominated and selected by a panel composed of members of the PayPal community, and members of civil rights organizations, nonprofits and academic institutions.

Awardees from each category will receive access to resources and mentorship from the PayPal community, as well as a monetary reward to put towards their work and vision.

While the award will initially have a U.S. focus, in the coming years, we plan to expand the award to our global community.

Paypal will announce its inaugural winners later this year in August.