Pay with Venmo, a fledgling merchant-payments service from PayPal Holdings Inc., is advancing to a broader testing stage with merchants, PayPal chief executive Dan Schulman said during a conference call with analysts to discuss the company’s first-quarter results Wednesday. Announced in 2016, One Touch is PayPal’s rapidly growing checkout service …
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PayPal Furthers Its In-Store Ambitions With Deals With Android Pay And Wells Fargo
When PayPal Holdings Inc. made deals last year with Visa Inc., Mastercard Inc., Citigroup Inc., and Fidelity National Information Services (FIS), one key part of the agreements was access to the card networks’ tokenization engines to reach bank-issued payment cards. On Tuesday,
Read More »Some Data from Chase May Show How the Fledgling Zelle Could Outrun PayPal’s Venmo
All eyes in the person-to-person payments business may be on Venmo these days, but a few tantalizing numbers released last week by JPMorgan Chase & Co. could indicate that a new, bank-controlled payments service set to launch this year will literally give PayPal Holdings Inc.’s P2P app a run for …
Read More »COMMENTARY: The Deal for TIO Networks Follows a Pattern for PayPal’s Schulman
By Rick Oglesby @DTPaymentNews PayPal Holdings Inc. has always been an enigma. It’s not really a payment network, not really an independent sales organization or merchant acquirer, not really a wallet or a prepaid card issuer, not really a person-to-person payments solution, and not really a payment gateway. Yet, it …
Read More »A $233-Million Deal for TIO Networks Catapults PayPal Into a Race for Bill-Pay Volume
By John Stewart @DTPaymentNews PayPal Holdings Inc., which hasn’t been shy about laying out big money to enter new businesses, said on Tuesday it will shell out $233 million to buy TIO Networks Corp., a cloud-based processor that will deepen PayPal’s penetration of the bill-payment market. The acquisition is expected …
Read More »PayPal Cooperating with Dept. of Justice Subpoena and other Digital Transactions News briefs
• PayPal Holdings Inc. reported in a filing that it has received subpoenas from the U.S. Department of Justice “seeking the production of certain information related to our historical anti-money laundering program.” PayPal said it is cooperating with the DoJ and cannot predict the outcome of the government’s investigation. • A point-of-sale software …
Read More »PayPal Plans To Raise Prices on Various Cross-Border Transactions in March
By Jim Daly@DTPaymentNews PayPal Holdings Inc. on Wednesday announced updates to its user agreements for consumers and merchants, and among the numerous changes are 0.5% price increases for several types of transactions involving U.S. sellers and foreign buyers. Beyond the price hikes, other changes include a new non-discrimination clause for …
Read More »‘We’re Just Scratching the Surface,’ CEO Schulman Says As PayPal Posts Strong Results
PayPal Holdings Inc. finished its first full calendar year separated from eBay Inc. with a tone that suggests a bit of swagger. “It was a landmark year for PayPal,” chief executive Dan Schulman told stock analysts Thursday afternoon. “We introduced a host of innovations. We bring to our merchants an …
Read More »PayPal in Law Firms’ Sights and other Digital Transactions News briefs
• The law firm Pomerantz LLP, which specializes in securities class actions, said it is “investigating claims on behalf of investors of PayPal Holdings Inc.” The firm says it is looking into whether PayPal executives or directors violated the Securities Exchange Act with respect to the timing of a disclosure of …
Read More »PayPal Follows Up on Visa And MasterCard Pacts With Citi And FIS Agreements for 2017
After PayPal Holdings Inc. in July signed a sweeping agreement with Visa Inc., and in September reached a similar deal with MasterCard Inc., giving PayPal access to the card networks’ token engines and thereby new access to the physical point of sale, observers wondered when the other shoe would drop. It dropped …
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