PayPal continued steady growth this quarter, reaching 192 million active users and 30 transactions per user. It also recorded $87 billion on 1.5 billion total transactions. Venmo accounted for $4.9 billion of that, and mobile accounted for approximately 30% of PayPal’s total transactions. That 192 million, by the way, counts 177Read More
Post Tagged with: "Braintree"
Last month it was announced that Visa had made a deal with PayPal, which gave PayPal access to payments via Visa cards at the point of sale, and today it’s finally clear why MasterCard CEO Ajay Banga was confused about the supposed “exclusivity” of the deal—because there isn’t any (unless itRead More
Watch out payments industry, Silicon Valley Bank is coming. The bank for startups — officially named SVB Financial Group — said last Friday that it was boning up its payments infrastructure and services by “leveraging strategic partnerships to offer scalable and sustainable payment solutions to our clients, at every stage ofRead More
The programming, fintech, and developer worlds got a scare Feb. 26 with an announcement that Venmo’s API had been shut down. In the midst of a major switchover from an existing API to a new beta, Venmo’s developer site had been replaced with a single box stating that “the VenmoRead More
Yesterday, PayPal’s head of consumer business, Hill Ferguson, stepped down. Today, it introduced a new consumer product, PayPal.Me. The first bit of news means the influence of Braintree founder Bill Ready, head of merchant business at PayPal, is growing. The second bit means PayPal liked the experience of Square Cash,Read More
Slower transaction times mean lost customers and lost revenue. Literally. Tyson Hackwood, head of Asia for PayPal subsidiary Braintree, said recently that reducing friction in the payment process is a key to payments success, which not exactly a secret. But he added in the video below that for every second a paymentRead More
On Monday, PayPal will once again be an independent company. And as it gears up for its big day, the social person-to-person payments service Venmo is the best thing PayPal has going for it. While PayPal grew a modest 27% in transactions last quarter, Venmo is growing nearly 10 times asRead More
Venmo cofounder’s Andrew Kortina and Iqram Magdon-Ismail appear to have stepped down from day-to-day activities at the mobile payments company, multiple sources within the company have told Bank Innovation.
Earlier today, The Information reported that eBay has been interviewing external candidates for the top job at PayPal, which was vacated in June when David Marcus left to be the head of Facebook Messenger. However, PayPal employees are pushing for Bill Ready, the current CEO of Braintree, to become the president at PayPal, according to numerous sources who spoke to Bank Innovation.