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PayPal to Acquire Digital Security Startup Curv

9Mar By AnkitaNo Comments

ACQUISITION

PayPal to Acquire Digital Security Startup Curv

SAN JOSE, Calif., March 9th, 2021-- PayPal Holdings, Inc. (NASDAQ: PYPL) has agreed to acquire Curv to accelerate and expand its initiatives to support cryptocurrencies and digital assets. Curv is a leading provider of cloud-based infrastructure for digital asset security based in Tel Aviv, Israel. In October 2020, PayPal announced its commitment to help shape the role that digital currencies will play in the future of financial services and commerce. To drive sustained growth and innovation in this area, the company recently created a business unit focused on blockchain, crypto, and digital currencies. Curv will join the newly formed group, with its strong team of technologists adding technical expertise to PayPal. "The acquisition of Curv is part of our effort to invest in ...

Top 5 Payment Providers For Online Gambling Industry

17Feb By AdityaNo Comments

Tech

Top 5 Payment Providers For Online Gambling Industry

In the online gambling industry, players now have more options than ever before when it comes to payment providers. While initially, the main and in fact, only method was via a debit card and bank transfer, there have been sophisticated strides forward in technology which has enabled the development of more payment methods. It has meant that players have more of a choice to suit their preferences depending on whatever is the most convenient at a particular time. Below, you will find the top five payment providers that you can find at most casino sites and what is involved. You also do not have to necessarily just stick to one, as long as you register the ones that appeal to you. Paybyphone One of the newest payment methods that most online casinos have made available to ...

5Feb By AnkitaNo Comments

INDIA

Paypal to shut down its India Operations

New Delhi, Feb 5, 2021: Digital payment solution provider Paypal will stop offering domestic payment services within India from April 1. The US-based company will instead focus on enabling more international sales for Indian businesses. 'We will continue to invest in product development that enables Indian businesses to reach nearly 350 million PayPal consumers worldwide, increase their sales internationally, and help the Indian economy return to growth, a PayPal spokesperson said. The company noted that it had processed USD 1.4 billion worth of international sales for over 3.6 lakh merchants in India last year. PayPal can have the greatest positive impact in India's economic recovery by pivoting its business to support customers where they need the company most, the spokespers...

Payment Firm Payoneer will Go For IPO After $3.3 Billion Merger

4Feb By AdityaNo Comments

ACQUISITION

Payment Firm Payoneer will Go For IPO After $3.3 Billion Merger

NEW YORK, February 4, 2021– Global payment firm Payoneer merge with FTAC Olympus Acquisition Corp. (NASDAQ: FTOCU), a special purpose acquisition company at an estimated enterprise value of approximately $3.3 billion. After this deal, Payoneer will be renamed as a Payoneer Global Inc. and will operate as Payoneer, the U.S. publicly listed entity. The company will carry up to $563 million in cash. Payoneer’s management team will continue to lead the Company. The global online payment transfer firm raises investments from TCV, Susquehanna Growth Equity (SGE), Viola Ventures, Wellington Management, Nyca Partners, Temasek and more. Payoneer processed more than $44 billion in volume in over 7,000 trade corridors in 2020.

PayPal Launched Crowdfunding platform Generosity Network

19Nov By AnkitaNo Comments

News

PayPal Launched Crowdfunding platform Generosity Network

SAN JOSE, Calif., Nov. 20, 2020: Global cross-border online payment platform PayPal will now enable its customers in the U.S. to create customized fundraising campaigns through its newly launched Generosity Network. Inspired by the rising popularity of peer-to-peer crowdfunding, Paypal Generosity Network let people raise up to $20,000 over a 30-day period. More than half of charitable organizations in the U.S. expect to raise less money than they did in 2019, as a result of the financial strain experienced by people and businesses across the country since the start of the pandemic. With more than 65 million Americans filing for unemployment over the course of the pandemic, many have turned to family, friends, and the generosity of those in their community who have been able to pr...

PayPal Introduces Buy Now Pay Later feature “Pay in 4”

2Sep By AdityaNo Comments

USA

PayPal Introduces Buy Now Pay Later feature “Pay in 4”

SAN JOSE, Calif., Sept 2, 2020-- PayPal announced "Pay in 4," a short-term installment offering for customers in the U.S. Pay in 4 can help merchants drive conversion, revenue, and customer loyalty without taking on additional risk or paying any additional fees while enabling consumers to make a purchase and pay over four, interest-free installments. Pay in 4, which is part of PayPal's growing suite of Pay Later solutions, enables merchants and partners to get paid upfront while enabling customers to pay for purchases between $30 and $600 over a six-week period. Pay in 4 is included in the merchant's existing PayPal pricing, so merchants don't pay any additional fees to enable it for their customers. Consumers pay no fees or interest, and payments are seamless with automatic re...

PayPal Posts Record Profit and Net Active Accounts in Q2 2020 Results

30Jul By AdityaNo Comments

Market

PayPal Posts Record Profit and Net Active Accounts in Q2 2020 Results

International Payment gateway PayPal posts record surge in transactions and new accounts that make 86 percent higher profit in Q2 2020. During this pandemic hit quarter, Paypal processed $222 billion (roughly Rs. 16.61 crores) in payments over the period, up 30 percent from a year earlier. The rate of payment growth compares with a year-earlier increase of 26 percent that had slowed to 19 percent in the first quarter when the pandemic broke and retail spending collapsed broadly. The company added 21.3 million accounts during the quarter, up 137 percent from a year earlier. Net income increased to $1.53 billion (roughly Rs. 11,446 crores), or $1.29 (roughly Rs. 90) per share, in the quarter ended June 30, from $823 million (roughly Rs. 6,159 crores), or 69 cents per s...

4Jun By AdityaNo Comments

FUNDING

Gojek raises funding from Facebook and PayPal

4th June, 2020: Social media giant Facebook and PayPal invested in Indonesia based ride-hailing and digital payment startup Gojek. The size of the deal has not been disclosed yet. Gojek announced today that Facebook and PayPal have joined Google, Tencent, and others as investors in its current fundraise. This new investment will support Gojek’s mission to boost Southeast Asia’s digital economy, with a focus on supporting payments and financial services in the region." company said in a statement. Starting as a ride-hailing service in 2010, Gojek launched an app five years later that soon turned into a "super-app" offering a wide range of services including deliveries, takeaway food and financial services. The investment is Facebook's first in Indonesia, Southeast Asia's leadi...

19Dec By AdityaNo Comments

ACQUISITION

PayPal Completes Acquisition of GoPay

SAN JOSE, Calif., Dec. 19, 2019-- PayPal Holdings, Inc. (NASDAQ: PYPL) announced that it has completed its acquisition of a 70% equity interest in Guofubao Information Technology Co., Ltd. (GoPay), following approval of the transaction by the People's Bank of China on September 30. With the close of the deal, PayPal is the first foreign payment platform licensed to provide online payment services in China. "We're pleased to complete this historic transaction, which enables us to broaden our participation in such a dynamic market," said Dan Schulman, president, and CEO, PayPal. "This important step will allow us to be a stronger partner to Chinese financial institutions and technology platforms. We look forward to contributing to the growth of China's e-commerce and payments ecos...

22Nov By AdityaNo Comments

ACQUISITION

Paypal Acquire Honey For $4 Billion

SAN JOSE, Calif., Nov. 22, 2019-- Online Payment Transfer platform PayPal has agreed to acquire Honey Science Corporation, a shopping and rewards platform for approximately $4 billion. Honey Science Corporation is an L.A. based tech company building tools to help people save time and money when shopping online. Honey, in combination with PayPal's two-sided network, will transform the shopping experience for PayPal's consumers while increasing sales and customer engagement for its merchants. Founded in 2012, Honey approximately have 17 million monthly active users and helped millions of people find more than $1 billion in savings in the past year. Honey currently works across approximately 30,000 online retailers ranging from fashion and technology, to travel and pizza deliv...

A Clear Look at PayPal Benefits Vs. Risks

10Sep By AnkitaNo Comments

BUSINESS

A Clear Look at PayPal Benefits Vs. Risks

Today PayPal is one of the biggest businesses in the money transfer industry making a revenue of $15.45 billion a year and processing $578 billion in payments annually. A great number of businesses rely on this service to receive and send payments abroad, thus greatly increasing their opportunities. Small businesses, in particular, benefit from it. With PayPal now launching a financing service the influence of this company will definitely increase further. Even at the stage it is now, it rivals banks and has an even wider reach in some areas. However, for all the benefits it offers, the company also charges high fees and has some other issues, which should make its customers hesitate and look for alternatives whenever possible. PayPal Pros and Cons for Small International Busines...

PayPal launches Xoom international money transfer service in UK

24Jul By PriyankaNo Comments

News

PayPal launches Xoom international money transfer service in UK

London: US payments company PayPal is expanding further in Europe by launching its international money transfers service Xoom in Britain and 31 other countries across the continent. Xoom allows customers to transfer money abroad to more than 130 markets internationally, including India and China. The company said the roll-out would help it grab market share in the $689 billion global remittances market, building on previous launches of the service in the United States and Canada. Britons alone transfer over $26 billion in remittances overseas annually, many sending money to help family members pay bills. Xoom partners with major banks and other finance firms to facilitate the money transfers, with customers able to transfer up to 8,800 pounds ($11,029) per transaction. Payp...