PaymentsNews

On The Web

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Companies

PayPal and American Express expand partnership, will allow use of points for PayPal purchases

“PayPal  this week announced an expanded relationship with American Express that will allow cardholders to use their Membership Rewards points when shopping from PayPal merchants, as well as more integrated experience within both PayPal and the Amex apps, among other things. The deal is similar to those PayPal earlier struck with Visa and MasterCard., and follows a series of partnerships […]
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Companies

Venmo Looks to New Leader to Overcome ‘Growing Pains’

“Venmo is best known as a money-transfer service that connects to users’ bank accounts and lets them send money digitally, along with a caption or an emoji that by default gets posted into a public newsfeed. It has become a hit with consumers—more than $14 billion in payment volume moved across Venmo in the second […]
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Companies

PayPal picks Temenos T24 core banking system

“The system will support several of PayPal’s businesses across multiple geographies, namely the US, UK, Germany and Australia.”PayPal has selected Temenos’ T24 core banking system, delivered in the cloud.”
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Companies

PayPal revenues miss but growth is strong from new acquisitions

“The addition of 2.9 million net new active accounts resulting from the acquisitions of Hyperwallet and iZettle show how those two deals are already adding value, as PayPal moves to expand internationally and away from its core market in the U.S. Payment transactions totaled 2.9 billion for the quarter, up 28 percent, and the $164 billion […]
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Companies

PayPal Quietly Took Over the Checkout Button

“Now independent of EBay, PayPal has a market capitalization of $100 billion, 100 times what it was worth when it went public in 2002, and the number of users has grown from 15 million to almost 250 million. While it’s struggled in China, where WeChat dominates payments, in the rest of the world it processes […]
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Companies

How PayPal Escaped Dot-Com Obsolescence

“PayPal’s conversion rate is lights-out: Eighty-nine percent of the time a customer gets to its checkout page, he makes the purchase. For other online credit and debit card transactions, that number sits at about 50 percent.”

On The Wires

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