The $5.8 billion in receivables sold to Synchrony according to a TechCrunch article, “also includes Synchrony’s acquisition of $1 billion in participation interests in PayPal receivables held by certain investors and a chartered financial institution.”; the two companies have partnered since 2004 to offer PayPal users branded credit cards; Synchrony will now be the exclusive issuer of the PayPal Credit online consumer financing program. Source
In the last 18 months there has been a wave of consolidation in the payments sector and that trend looks...
This week, we look at:
The Bitcoin money supply being worth as much as the M1 of several countries
The Visa/Plaid deal DOJ anti-trust filing and the PayPal integration of Bitcoin
Understanding Central Bank Digital Currencies in the context of card networks, payment processors, and digital economies
Chinese CBDC and how it could relate to stopping the $34B Ant Financial IPO
How a CBDC ecosystem is like an operating system, rather than a payment rail
PayPal has announced the acquisition of TIO Networks for $233 million; TIO Networks is a bill payment management company and PayPal plans to integrate with its kiosks for bill payment at local merchants; the integration is part of an initiative to reach more underserved bank customers. Source
The Competition and Markets Authority (CMA) has now given provisional approval of the deal which was originally announced last year;...
PayPal's upbeat earnings call came with the announcement of Schulman's departure and prudent guidance for 2023.
Tink raised €56 million in new funding in February and today it announced a further investment of €1o million from...
PayPal saw payment volumes grow by 29 percent and they added 8.7 million new accounts in Q4 2017; the recent announcement that eBay was replacing PayPal with Adyen for processing overshadowed what was another strong quarter by the company; while the Adyen news was not positive for PayPal it could be seen as that in the long term as the company has been diversifying more in recent years; PayPal has seen growth through more partnerships with card networks and banks globally. Source.
American Banker reports on the lobbying group called Financial Innovation Now and that some technology giants are meeting individually with government agencies; Amazon met with the OCC starting in the second quarter of 2016 and met again this year; PayPal has also met with OCC officials in several quarters last year. Source
In their first quarter earnings call yesterday PayPal revealed the scale of Venmo for the first time; in the past...